Naira gains against the dollar to close at N410/$

Factual Pursuit of Truth for Progress

The exchange rate between naira and the US dollar on Friday closed at N410/$1 at the Importers and Exporters window.

The is with the Naira appreciating further at the NAFEX window to close at N410 to a dollar. This means a N1 gain when compared to N411/$1 recorded on Thursday.

Similarly, the naira maintained stability at the parallel market to close at N485/$1, while forex turnover dipped by 48.6% from $110.46 million recorded on Thursday to $56.81 million on Friday.

Meanwhile, bitcoin gained 2.54% in the early hours of Monday as it traded for $58,060 as at 4:42 am on Monday, while the total crypto market capitalisation has gained to stand at$2.21 trillion.

At the official NAFEX window,the naira appreciated against the US dollar at the Investors and Exporters window on Friday to close at N410/$1, representing a N1 gain when compared to the N411/$1 that was recorded on Thursday.

The opening indicative rate closed at N410.13 to a dollar on Friday, 30th April 2021, representing a 33 kobo drop when compared to the N410.46/$1 that was recorded on Thursday.
Also, an exchange rate of N429.13 to a dollar was the highest rate recorded during intra-day trading before it settled at N410/$1. It also sold for as low as N395/$1 during intra-day trading.
Forex turnover at the Investor and Exporters (I&E) window declined significantly by 48.6% on Friday.


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