The naira to dollar exchange rate weakened on Friday, November 29, 2021, as it sold for N480 to one dollar at the parallel market/black market.
This is an indication that naira depreciated in value by N2 when compared with its value of N478/ dollar the previous day.
The exchange rate at the Nigerian Autonomous Foreign Exchange (NAFEX) window however appreciated slightly to N394.13 to one dollar on Friday as against N394.33 the previous day.
NAFEX, also known as Importers and Exporters window, is where forex is traded officially.
Trading at the NAFEX window reached a peak of 415.95 to one dollar on Friday.
The closing rate indicated that naira appreciated in value by 20 kobo.
The exchange rate disparity between the parallel market and the official market is about N85.87, representing a 17.89 percent devaluation differential.
