Exchange rate at parallel market records a marginal decline of 0.17%

The exchange rate between the naira and the US dollar closed at N416.5/$1 at the official Investors and Exporters (I&E) window.

The exchange rate at the I&E window started the week on the same level as it closed on Friday, the previous week, closing flat at N416.5 to a dollar on Monday, 14th March 2022.

Similarly, Naira maintains the same rate at the Peer-to-Peer (P2P) market on Tuesday morning to trade at a minimum of N581/$1, the same as recorded in the previous trading session.

Meanwhile, the exchange rate at the parallel market recorded a marginal decline of 0.17% to close at N578/$1 on Monday, from N577/$1 recorded in the previous trading session. This is according to information obtained from BDC operators.

Trading at the official NAFEX window
The exchange rate at the Investors and Exporters window closed at N416.5/$1 on Monday, 14th March 2022, the same rate recorded as of the end of the previous week.