At the Nigerian Autonomous Foreign Exchange (NAFEX), the exchange rate appreciated and closed at N394 to one dollar on Thursday, November 21, 2021.
NAFEX, also known as Importers and Exporters window, is where forex is traded officially.
The closing rate indicated that naira appreciated in value marginally by 17 kobo compared with the previous day November 20, when its exchanged for N394.17/$1.
At the parallel market/black market, the naira to dollar exchange rate remained stable at N475 at one dollar.
The exchange rate disparity between the parallel market and the official market is about N81, representing a 17 percent devaluation differential.
