The foreign trade (forex) rate between the Naira and the US Dollar settled at N464.67/$1 on Wednesday in the official forex market.
This is higher than the N464.50 kobo/$1 rate at Tuesday’s close for both currencies. The Naira devalued in esteem by – 0.03 percent and the expense of the Dollar rose by N0.17 kobo.
The Naira-Dollar rate peaked at N467/$1 and traded at a low of N467/$1 prior to the foreign exchange closing at N464.67/$1.
Gistlegit discovered that investors and exporters exchanged $163.74 million in foreign currency at the conclusion of trading.
The forex transaction exceeded Tuesday’s record of $120.36 million. They expanded the worth of exchanges by N43.38 million or 36.04 percent.
Additionally, the dollar rate in the black market’s Bureau De Change window decreased slightly to N750/$1, from N751.1/$1 on Tuesday.
The Euro currency also settled at N813.6/€1, compared to N815.2/€1 when traders purchased foreign banknotes the day before.
Be that as it may, the rate between the Naira and the British Pound shut high at N942.5/£1, over the $942.1/£1 the two currency exchanged traded the day