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Naira drops down at P2P market, see new exchange

At the official Investors and Exporters (I&E) window, the naira and the US dollar exchange rate closed at N416.07/$1.

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The naira gained 0.04 percent versus the US dollar on Thursday, closing at N416.07/$1, up from N416.25/$1 at the conclusion of business on Wednesday, February 2nd, 2022.

The exchange rate on the Peer-to-Peer (P2P) currency market, on the other hand, declined, trading at a low of N572.8 to a dollar on Friday morning, compared to N569.9/$1 in the previous trading session.

The official market’s daily forex turnover increased by 59.4 percent to $162.7 million, the largest daily turnover in over three weeks.

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