Naira opened the week with a 0.16% fall to close at N415.07/$1 on Monday compared to N414.4/$1 recorded on Friday, 19th November 2021. On the other hand, forex turnover at the official window surged by 114.7% to $149.53 million.

According to data tracked  from FMDQ, forex turnover at the I&E window increased from $69.63 million recorded on Friday 19th November 2021 to $149.53 million on Monday 22nd November 2021.

The exchange rate between the naira and the US dollar closed at N415.07/$1, at the Investors and Exporters (I&E) window, where forex is traded officially.

The opening indicative rate closed at N413.53/$1 on Friday, which represents a 5 kobo appreciation compared to N413.55/$1 recorded in the previous trading session.

An exchange rate of N453.1 to a dollar was the highest rate recorded during intra-day trading before it settled at N415.07/$1, while it sold for as low as N404/$1 during intra-day trading. The highest daily has now recorded two consecutive days of increase.

Forex turnover at the official window increased significantly by 114.7% to $149.53 million on Monday.