At the Nigerian Autonomous Foreign Exchange (NAFEX), the exchange rate depreciated and closed at N394.17 to one dollar on Friday, November 22, 2021.
NAFEX, also known as Importers and Exporters window, is where forex is traded officially.
The closing rate indicated that naira depreciated in value marginally by 17 kobo compared with the previous day November 20, when its exchanged for N394/$1.
At the parallel market/black market, the naira to dollar exchange rate increased to N477 to one dollar from N475/dollar since Thursday last week.
The exchange rate disparity between the parallel market and the official market is about N82.83, representing a 17.36 percent devaluation differential.
, the exchange rate depreciated and closed at N394.17 to one dollar on Friday, November 22, 2021.){kind=link}