Black market exchange rate falls to N760/$1

The exchange rate between naira and US dollar at the black market depreciated on Tuesday by 0.26 per cent to trade at an average of N760/$1, from N750/$1 recorded in the previous session

In the same vein, the naira depreciated marginally against the US dollar at the cryptocurrency P2P exchange market to trade at an average of N750/$1 on Tuesday morning an 0.08 per cent downturn from N749.88/$1 on Monday.

Likewise, the exchange rate between the naira and US dollar at the official investors and exporters window fell by 0.18 per cent to close at N462/$1 on Monday compared to N461.17/$1 recorded on Friday.

Forex however, decreased 64.53 per cent to $54.37 million at the official exchange on Monday from the $153.3 million that was transacted last week Friday. The nation’s external reserves stood at $36.698 billion as of Friday from $36.707 billion recorded on Thursday.