Naira depreciates at black market amid decline in oil prices

The naira depreciated marginally at the parallel market, as it closed at N486/$1.

Tuesday, 30th March 2021, the naira depreciated marginally at the parallel market, closing at N486/$1, this represents a N1 drop when compared to the N485/$1 that was recorded on the previous trading day.

However, the exchange rate between the naira and the US Dollar closed at N409/$1 at the Investors and Exporters window.

The naira appreciated against the US Dollar on Tuesday, 30th March 2021 gaining for the third consecutive day at the NAFEX window to close at N409 to a dollar despite very low dollar supply.

This represents a 0.03% gain, when compared to N409.13/$1 recorded on Monday, 29th March 2021.

The naira appreciated against the US Dollar at the Investors and Exporters window on Tuesday to close at N409/$1. This represents a 13 kobo gain when compared to N409.13/$1 recorded on Monday, 29th March 2021.

 

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