The exchange rate between the naira and the US dollar closed at N795.28/$1 at the official Investor and Exporters window on Monday, 17th July 2023.
This compares to N820/$1 traded by BDC operated on the same day at the unofficial I&E Window.
The official exchange rate also improved from the N803.9 per dollar that it traded at on Friday.
Meanwhile, N820/$1 traded at the parallel market is weaker than the average rate of N815/$1 recorded last Friday, according to Nairametrics survey.
The monetary policy committee of the central bank is expected to meet on Tuesday and Wednesday to deliberate on the economy.
I&E FX window – The exchange rate opened at N782.79/$1 and sold for as high as N832/$1.
Parallel market – The Naira-US dollar exchange rate at the unofficial parallel market on Monday depreciated to N820/$1, compared to the average rate of N815/$1 on Friday.
External Reserves: According to the latest data from the Central Bank, the nation’s foreign exchange reserves declined slightly to $34.038 billion as of July 13, 2023, compared to $34.047 billion on the previous day.
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