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BREAKING: Naira Appreciates To N786.02/$1 (DETAILS)
BREAKING: Naira Appreciates To N786.02/$1 (DETAILS)
On Wednesday, November 1st, 2023, the Nigerian naira strengthened against the US dollar, closing at an exchange rate of N786.02/$1 in the official market.
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This marks a 3.73% improvement from the previous day’s rate of N815.32/$1.
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During the day, the naira reached a high of N1101.00/$1 and a low of N701.00/$1, indicating a notable spread of N400/$1.
Data from the official NAFEM window reveals that the forex turnover at the close of trading stood at $105.98 million, reflecting a significant 41.82% decrease compared to the previous day.
In the unofficial black market, where forex transactions occur, the exchange rate saw a 0.85% increase, with rates quoted at N1170/$1. Peer-to-peer traders, on the other hand, quoted rates around N1180/$1.
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