In a mixed market reactions, the Naira depreciated and fell to ₦555 per Dollar at the parallel market as at Monday, Nov. 22.
This can be said to be an appreciation in the said of the Naira, given that in the last week market, $1 was traded for ₦575 but recovered to ₦530 per dollar by the end of the week.
However, on Monday, it fell again, sliding to 550 Naira per dollar in the parallel market as demand for dollars increases.
At the Central Bank of Nigeria’s Investor & Exporter Window, the naira fell by 0.16 per cent to close at 415.07/dollar after reaching a new high of N445.75.
However, the CBN maintained 411.63/dollar as the official rate on its website, while banks charges ₦560/$1 for international card transactions.