Lagos, Oct. 31, 2023 – The naira closed at N993.82 to the dollar at the official NAFEX market on Monday, the lowest level ever at the official segment of the foreign exchange market.
The currency has been facing steady depreciation since the unification of the foreign exchange system was announced by President Tinubu on May 29, 2023.
It was traded at N804.11 to the dollar at NAFEX on Oct. 27, 2023.
However, the naira is currently appreciating at the black in the last few days.
The naira is being exchanged at between N1,115 and N1,110 to the dollar at the black market this morning in Lagos, far from the N1,300 early in October. (GBN)
