You are here: HomeBusiness2022 07 28Article 576029

Business News of Thursday, 28 July 2022

Source: www.mynigeria.com

Check out the list showing the exchange rate of the Naira to other foreign currencies

File photo to illustrate the story File photo to illustrate the story

The naira has fallen further in the parallel market, as it is currently trading for N700 against the U.S. dollar.

As of Monday, July 25, the naira traded for N670 against the dollar, however, on Wednesday, July 27, the currency fell by 6.7 percent.

The data published on the FMDQ website where forex is officially traded, naira which opened at N427.30 closed at N431.00 to a dollar on Tuesday.

This represents an N3.87 or 0.90 percent devaluation from N427.17 it exchanged in the previous session on Monday.

So far, this is the weakest rate the currency has traded at the Nafex window this year.

See a list showing the exchange rate of the Naira to other foreign currencies below;