Naira plunges further against US dollar by N2.33 | Ripples Nigeria
Connect with us


Naira plunges further against US dollar by N2.33



NFIU pegs LGs daily cash withdrawal at N.5m

The exchange rate between the naira and the United State’s Dollar closed at N411.63/$1 at the Investors and Exporters window on Tuesday, March 2.

This represents a 0.59% drop or N2.33 when compared to N409.2 recorded on Monday.

Read also: Naira gains 0.26% against dollar after CBN admits currency devaluation

However, on the unofficial market, data posted on, a website that collates parallel market rates in Lagos showed the domestic currency strengthened by N2.00 or 0.42 per cent to the dollars on Tuesday to close at N480/$1 on from the N482/$1 that it closed on the previous trading day.

Forex turnover at the Investor and Exporters (I&E) the window also rose by 142.7 percent on Tuesday, March 2, 2021.

According to the data from FMDQ, forex turnover increased from $24.38 million recorded on Monday, March 1, 2021, to $59.17 million on Tuesday, March 2, 2021.

Join the conversation


Join the conversation



Latest Tech News