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BANKING & FINANCECOVER

Naira Falls At Parallel Market

Naira Gains At Black Market

Naira to dollar exchange rate depreciated against United States dollar by 0.83 per cent at the parallel market on Tuesday, April 20, 2021.

Naira closed at N486 against dollar as against N482/$1 on Monday, April 19, 2021.

At the Investors and Exporters window, where forex is traded officially, the exchange rate between the naira and the US dollar closed at N410.67 to one dollar on Tuesday, April 20, 2021.

This represents a 0.08 percent decline when compared to N410.33/$1 recorded on Monday, April 19, 2021.

The closing rate indicated that the exchange rate differential between NAFEX market and parallel market is N75.33.

Nigeria’s foreign reserve dipped for the first time in about 19 days, as it declined by 0.1 percent to stand at $35.22 billion on Monday.

About Author

Ife Ogunfuwa is an award-winning reporter who is versed in reporting business and economy, technology, gadgets reviews, telecoms, tax, and business policy review, among others. She loves telling stories behind the numbers. She has professional certifications in business and financial reporting. You can reach her via – [email protected]

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