Naira Gains Marginally At Official Market As Foreign Reserve Gains $1.81 Billion

By Akudo Abengowe
MarketWest Africa

Wednesday, 22nd September 2021: The exchange rate between the naira and the US dollar closed at N413.18/$1, at the official Investors and Exporters window.

Naira gained marginally against the US dollar on Wednesday, to close at N413.18/$1, representing a 0.02% appreciation compared to N413.28/$1 recorded on Tuesday 21st September 2021. The exchange rate has now maintained an average of N413.38/$1 between Monday and Wednesday.

Similarly, the exchange rate at the parallel market also appreciated to N572/$1 on Wednesday from N575/$1 recorded a day before. This is according to information obtained by Ikeanumba

Nigeria’s foreign reserve also gained $89.44 million on Tuesday, 21st September 2021 to close at $35.83 billion, according to data from the Central Bank of Nigeria. So far in the month of September, the CBN has recorded a total reserve gain of $1.81 billion.

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