The naira maintained a stable position on Tuesday at the exchange rate market against the dollar.
Naira and dollar
The naira exchanged N465 to $1 at the parallel/black market on Tuesday, 14, 2020. This was the same rate that it exchanged on Monday.
According to Naira Metrics, on the officially recognized NAFEX Market, the forex turnover dropped by 64.4% while the exchange rate remained stable at N386/$1.
However, the Naira remained stable against the dollar at the Investors and Exporters (I&E) window on Monday, closing at N386/$1, this was the same rate that was reported on Monday, July 13. The opening indicative rate was N387.92 to a dollar on Tuesday. This represents a 33 kobo drop when compared to the N387.46 to a dollar that was recorded on Monday.