Naira Loses by One kobo against Dollar

Written by on September 10, 2022

Nigeria’s naira lost slightly to the dollar, exchanging at #436.33k compared with #436.32k on Thursday.

The open indicative rate closed at 433.83k to the dollar on Friday.

An exchange rate of #437 to the dollar was the highest rate recorded within the day’s trading before it settled at #436.33k.

The Naira sold for as low as #425 to the dollar within the day’s trading.

According to the report, a total of $66.02 million was traded at the official Investors and Exporters window.

Meanwhile, over the past month, Nigeria’s commercial banks have openly declared reduced limits on international transactions using naira debit cards to $20 per month.

This comes as a longstanding scarcity of foreign exchange continues to bite the country accompanied with the recent surge in global energy prices.

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