Naira Falls At P2P Parallel Market, See New Exchange

At the official Investors and Exporters (I&E) window, the naira-dollar exchange rate closed at N416.07/$1.

The naira rose somewhat versus the US dollar on Thursday, rising 0.04 percent to settle at N416.07/$1, up from N416.25/$1 on Wednesday, 2nd February 2022.

On the other hand, the exchange rate depreciated on the Peer-to-Peer (P2P) forex market on Friday morning, trading at a minimum of N572.8 to a dollar, down from N569.9/$1 the previous trading session.

Trading in the NAFEX’s official window

On Thursday, 3rd February 2022, the Investors and Exporters window closed at N416.07/$1, a 0.04 percent increase over the previous trading session’s finish of N416.25/$1.

On Thursday, the opening indicative rate closed at N415.68/$1, down 11 kobo from the previous trading session’s N415.5/$1.
The highest intra-day rate recorded was N444/$1 before settling at N416.07/$1, while it sold for as low as N408/$1 during intra-day trading.
On Thursday, 3rd February 2022, forex turnover at the official window increased by 59.4 percent to $162.7 million.
Forex turnover at the I&E window climbed from $102.07 million on Wednesday 2nd February 2022 to $162.7 million on Thursday 3rd January 2022, according to data tracked by Naija News from FMDQ.