The exchange rate between the naira and the US dollar closed at N415.1/$1 at the official Investors and Exporters (I&E) window.
Naira closed flat against the US dollar on Wednesday to close at N415.1/$1 the same as recorded in the previous trading session. Meanwhile, forex turnover at the official market recorded a marginal decline of 33.5% to $215.29 million from $323.56 million recorded in the previous trading session.
On the other hand, naira gained against the US dollar on Wednesday to close at N571/$1, from an average of N575/$1 recorded in the previous day.
Nigeria’s foreign reserve reduced by 0.02% on Tuesday, 21st December to close at $40.61 billion compared to $40.62 billion recorded as of the previous day. The continuous decline in the nation’s external reserve is attributed to the intervention by the apex bank in the official forex market.
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