Thursday 25th February 2021, The exchange rate between the naira and the US Dollar closed at N408.67 to a dollar at the Investors and Exporters window.
Naira appreciated marginally against the US Dollar on Thursday as it closed at N408.67/$1 at the NAFEX window. This represents a 0.03% gain compared to N408.8 recorded on the previous day.
On the other hand, the exchange rate remained stable in the parallel market, closing at N480/$1 on Thursday, the same as recorded on Wednesday.
However, forex turnover at the Investor and Exporters (I&E) window decreased by 79.3% from $212.43 million recorded on Wednesday to $43.97 million on Thursday 25th February 2021.
Trading at the official NAFEX window
Naira appreciated against the US Dollar in the Investors and Exporters window on Thursday, as it closed at N408.67/$1. This represents a 0.03% gain when compared to N408.8/$1 recorded a day earlier.
- The opening indicative rate closed at N409.16 to a dollar on Thursday. This is an improvement of 0.34% compared to N409.5/$1 recorded on Wednesday.
- Also, an exchange rate of N415 to a dollar was the highest rate during intra-day trading before it closed at N408.67/$1. It also sold for as low as N382/$1 during intra-day trading.
- Forex turnover at the Investor and Exporters (I&E) window decreased by 79.3% on Thursday, February 25, 2021.
- According to the data tracked by Nairametrics from FMDQ, forex turnover decreased from $212.43 million recorded on Wednesday, February 24th, 2021, to $43.97 million on Thursday, February 24th, 2021.
