Monday, October 18, 2021

    Naira Plummets Despite Improve Supply as Foreign Reserves Gain $1.40Bn

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    Despite the increase in the dollar supply during the week, the naira depreciated in the FX market as the naira dipped by 0.22% in the I&E Window to close at ₦414.30/USD, while it declined by 0.35% in the Black market, closing at ₦575/USD, according to the BDCs operators.

    The Nigeria Foreign Reserve sustained its uptrend to a gain of $1.40Bn from the closing position of $36.78Bn (Thursday, 30 September, 2021) to $38.18Bn on Thursday 7th October 2021.

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