Naira Falls Against Dollar At The Official Market

Naira Falls Against Dollar At The Official Market

 

Naira started the week on a bearish note, with a 0.67% depreciation.

Naira Falls Against Dollar At The Official Market

The naira on Monday, 8th August 2022 depreciated against the dollar at the Investors and Exporters (I&E) window.

According to Nairametrics, the naira closed at N431/$1.

Naira started the week on a bearish note, with a 0.67% depreciation to close at N431/$1 compared to N428.12/$1 recorded in the previous trading session. This is despite a 60.83% increase in the amount of forex trading in the market at $115.67 million.

In the same vein, at the peer-to-peer market, the naira fell to N670.4/$1 on Tuesday morning from N662.4/$1 recorded as of the same time on Monday, representing a 1.21% decline compared to the previous day.

This is happening even after the EFCC resorted to threatening to arrest dollar hoarders and raided Bureau de Change Operators in Abuja.


About Author
Admin
Get Local and International News, Entertainment, Scholarships, and other updates daily from Nigeria and around the world.

Be the first to comment

Leave a Reply

Your email address will not be published.


*