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Naira Records Serious Crash Against Dollar...See Latest Exchange Rate - Naira Data Critical Crash Towards Greenback...See Newest Alternate Charge

Naira Data Critical Crash Towards Greenback…See Newest Alternate Charge


Naira and greenback

 

The naira has continued its crash towards the greenback after exchanging at N472/$1 on Monday, July 20, 2020 on the parallel market.

 

Nonetheless, on the formally acknowledged NAFEX market, the foreign exchange turnover elevated by 4.5% whereas the trade remained steady closing at N388.50/$1.

 

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In keeping with Nairametrics, on the black market the place foreign exchange is traded unofficially, the Naira depreciated by N2 to a greenback to shut at N472 to a greenback on Monday, in response to info from Aboki FX a outstanding FX monitoring web site. That is towards the N470 to a greenback that it exchanged on Friday final week. An Impartial test by Nairametrics analysis reveals that the trade price bought as excessive as N473/$1 in response to the FX tracker. Nairametrics collates parallel market trade charges way back to 2017.

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The Naira remained steady towards the greenback at the Traders and Exporters (I&E) window on Monday, closing at N388.50/$1, this was the identical price that was reported on Friday, July 17.  The opening indicative price was N388.40 to a greenback on Monday. This represents a 33 kobo drop in comparison to the N388.07 to a greenback that was recorded on Friday. The trade price disparity between the official NAFEX price and again market price widened on Monday and is now a whopping N84.

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