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

Naira closed flat against the US dollar on Monday at N415.07/$1, the same as recorded in the past three trading sessions. This is despite trading as high as N456.97 during intra-day session. FOREX liquidity at the official market continues to improve as it increased by 19.1% to $256.69 million from $215.47 million recorded in the previous day. 

Meanwhile, the naira depreciated against the US dollar on Monday to close at N569/$1 from N560/$1 that was recorded in the previous trading session. 

Nigeria’s foreign reserve dropped yet again by 0.05% on Friday, 26th November to close at $41.28 billion compared to $41.3 billion recorded as of the previous day. The recent decline in the nation’s external reserve is attributed to the intervention by the apex bank in the official forex market.