The exchange rate at the Nigerian Autonomous Foreign Exchange (NAFEX) window appreciated on Friday, February 5, 2021, after recording four consecutive days of depreciation.
The foreign exchange closed at N396.17 to one dollar as against N397.63 to one dollar on Thursday in the previous week.
NAFEX, also known as Investors and Exporters window, is where forex is traded officially.
The closing rate indicated that naira appreciated in value by N1.46.
At the parallel market/black market, the naira to dollar exchange rate remained steady at N480 to one dollar.
The exchange rate disparity between the parallel market and the official market is about N83.83, representing a 17.46 percent devaluation differential.
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