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BusinessNigeria

How Naira depreciated against the Dollar in Exchange Rate

The Nigerian naira on Thursday depreciated against the dollar at the official investors and exporters window to close at N415.1/$1.

The loss represented a 0.07% decline compared to N414.8/$1 recorded at the close of trading activities on Wednesday.
However, the naira remained flat against the US dollar at the parallel market on Thursday to close at N570/$1, the same as recorded at the close of trading activities on Wednesday, 3rd November 2021.
This is according to information obtained by Nairametrics from BDC operators in Lagos.
Nigeria’s foreign reserve continued on a decline on Wednesday with a 0.05% drop to close at $41.76 billion on 3rd November 2021. This represents a $19.32 million decline compared to $41.78 billion recorded as of Tuesday, 2nd November 2021.

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