Black market exchange rate closes at N735/$1 


The exchange rate between the Naira and the US dollar closed at an average of N735/$1 on Monday, at the black market, the same as recorded last week Friday.

Naira recorded a marginal gain at the P2P cryptocurrency exchange, trading at a minimum of N735/$1 on Monday afternoon, representing a 0.44 per cent appreciation compared to N738.25/$1 recorded on Friday.

Also, the exchange rate at the official Investors and Exporters window appreciated on Friday, closing at N445.33/$1 compared to N445.83/$1 recorded in the previous session. On the other hand, forex turnover surged by 59.8 per cent to $159.02 million on the day under review.

Nigeria’s external reserve dipped further on Friday, to stand at $37.1 billion, representing a 0.02 per cent decline compared to $37.11 billion recorded in the previous day.