• Advertise
  • Opinion
  • Features & Interviews
  • Investigation
  • Contact
Sunday, August 14, 2022
  • Login
No Result
View All Result
NEWSLETTER
The Lagos Today
  • Home
  • News
    • Lagos News
    • National News
    • World News
  • Entertainment⚡ by CRAWL
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    TuBaba did not Impregnate any Banker – Manager

    TuBaba did not Impregnate any Banker – Manager

    Amusan Sets New Record, Wins Gold At Commonwealth Games

    Nigeria’s athletes will sweep medals at Paris 2024 Olympics if well nurtured- Ex-Athlete, Porbeni

    VICTORIA AZARENKA INTO THE FINALS, DASHED SERENA WILLIAMS’ 24TH GRAND SLAM HOPES

    Serena Williams Quits Professional Tennis

    Kizz Daniel arrested in Tanzania for not performing in paid concert

    Kizz Daniel Released From Tanzanian Police Custody

    Kizz Daniel arrested in Tanzania for not performing in paid concert

    Kizz Daniel arrested in Tanzania for not performing in paid concert

    Amusan Sets New Record, Wins Gold At Commonwealth Games

    Amusan Sets New Record, Wins Gold At Commonwealth Games

    Fela Kuti Celebrated 25 Years After Death

    Fela Kuti Celebrated 25 Years After Death

    BBNaija S7: Hermes Emerges HOH For Week Two

    BBNaija S7: Hermes Emerges HOH For Week Two

    2022 Commonwealth Games: Lawal Wins Nigeria Second Gold Medal in Weightlifting

    2022 Commonwealth Games: Lawal Wins Nigeria Second Gold Medal in Weightlifting

    NiDCOM Boss Hails Tobi Amusan On Her Victory At World Athletics Championship

    NiDCOM Boss Hails Tobi Amusan On Her Victory At World Athletics Championship

  • Opinion
  • Business
  • Features & Interviews
  • Best Of Lagos
    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    A Rare Hobby: Sports Fishing In Lagos

    A Rare Hobby: Sports Fishing In Lagos

    Chef Nkesi- Experiencing Different Cultures Through Food

    Chef Nkesi- Experiencing Different Cultures Through Food

    Wumi Jubril: Creating Memorable Experiences

    Wumi Jubril: Creating Memorable Experiences

    Nordic hotel

    Nordic Hotel Makes Grand Debut in Lagos

  • Things To Do
  • Home
  • News
    • Lagos News
    • National News
    • World News
  • Entertainment⚡ by CRAWL
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    TuBaba did not Impregnate any Banker – Manager

    TuBaba did not Impregnate any Banker – Manager

    Amusan Sets New Record, Wins Gold At Commonwealth Games

    Nigeria’s athletes will sweep medals at Paris 2024 Olympics if well nurtured- Ex-Athlete, Porbeni

    VICTORIA AZARENKA INTO THE FINALS, DASHED SERENA WILLIAMS’ 24TH GRAND SLAM HOPES

    Serena Williams Quits Professional Tennis

    Kizz Daniel arrested in Tanzania for not performing in paid concert

    Kizz Daniel Released From Tanzanian Police Custody

    Kizz Daniel arrested in Tanzania for not performing in paid concert

    Kizz Daniel arrested in Tanzania for not performing in paid concert

    Amusan Sets New Record, Wins Gold At Commonwealth Games

    Amusan Sets New Record, Wins Gold At Commonwealth Games

    Fela Kuti Celebrated 25 Years After Death

    Fela Kuti Celebrated 25 Years After Death

    BBNaija S7: Hermes Emerges HOH For Week Two

    BBNaija S7: Hermes Emerges HOH For Week Two

    2022 Commonwealth Games: Lawal Wins Nigeria Second Gold Medal in Weightlifting

    2022 Commonwealth Games: Lawal Wins Nigeria Second Gold Medal in Weightlifting

    NiDCOM Boss Hails Tobi Amusan On Her Victory At World Athletics Championship

    NiDCOM Boss Hails Tobi Amusan On Her Victory At World Athletics Championship

  • Opinion
  • Business
  • Features & Interviews
  • Best Of Lagos
    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    A Rare Hobby: Sports Fishing In Lagos

    A Rare Hobby: Sports Fishing In Lagos

    Chef Nkesi- Experiencing Different Cultures Through Food

    Chef Nkesi- Experiencing Different Cultures Through Food

    Wumi Jubril: Creating Memorable Experiences

    Wumi Jubril: Creating Memorable Experiences

    Nordic hotel

    Nordic Hotel Makes Grand Debut in Lagos

  • Things To Do
No Result
View All Result
The Lagos Today
No Result
View All Result
Home Business

Nigeria’s Exchange Rate Slopes Further Amid Forex Markets Despite Boost in Dollar Supply

by Chinonso Ihekire
May 17, 2021
in Business, National
2 min read
0
0
CBN Boosts Naira With $4.37bn in 2020 Q3
Share on FacebookShare on Twitter

The exchange rate between the naira and the US dollar closed at N411.67/$1 at the Importers’ and Exporters’ (I&E) window where forex is traded officially.

Naira depreciated further against the US dollar, for the fourth consecutive trading session to close at N411.67 on Friday, 14th May 2021. This represents a 42 kobo depreciation compared to N411.25/$1 recorded on Tuesday, 11th May 2021.

The exchange rate also depreciated in the parallel market on Friday to close at N484/$1 compared to N483/$1 recorded a day before, following the Eid-el-Fitr two-day holiday. Naira declined across both markets despite the 106.9% increase in dollar supply.

Trading at the official NAFEX window

The naira depreciated against the US dollar at the Investors and Exporters window on Friday to close at N411.67/$1, representing a 0.1% drop when compared to the N411.25/$1 that was recorded on Tuesday.

The opening indicative rate closed at N410.4 to a dollar on Friday, 14th May 2021, representing a 7 kobo drop when compared to the N410.33/$1 recorded on Tuesday.

Also, an exchange rate of N426.67 to a dollar was the highest rate recorded during intra-day trading before it settled at N411.67/$1. It, however, sold for as low as N394/$1 during intra-day trading.

Forex turnover at the Investor and Exporters (I&E) window rose significantly by 106.9% on Friday, 14th May 2021.

A cursory look at the data tracked by Nairametrics from FMDQ showed that forex turnover increased from $98.33 million recorded on Tuesday, 11th May 2021 to $203.42 million on Friday, 14th May 2021.

Cryptocurrency watch

The value of Bitcoin dipped by 4.16% on Sunday 16th May 2021 to trade at $44,782.85 as of 9:24 pm, Nigerian time.

The highly-priced digital asset recorded a decline of 4.16%, losing over $1,950 during inter-day trading.

Ethereum also dipped by 6.88% to trade at $3,395, having lost about $246 during the day’s trading.

The total crypto market capitalisation also declined by 4.32% to close at 42.05 trillion.

The decline came after Tesla CEO Elon Musk did not outrightly deny that his electric car company has sold or could soon sell all of its bitcoin holdings as a result of the criticism he received after suspending bitcoin as a form of payment.

Follow us on social media
  • Facebook
  • Twitter
  • Instagram

Share this:

  • Twitter
  • Facebook

Like this:

Like Loading...
Tags: DollarExchange rateNairaNigeria
Previous Post

NDLEA Nabs Dispatch Rider with Drug-Laced Cakes on Lagos-Ibadan Expressway

Next Post

Lagos Begins Campaign to Reduce Noise Pollution

Chinonso Ihekire

Chinonso Ihekire

Related Posts

2023 Election: INEC To Begin Voter Registration In 2021, Earmarks N1bn Budget for Exercise

Allow 7m Nigerians To Complete Voter Registration Or Face Legal Action, SERAP Tells INEC

by Rosemary Opara
August 14, 2022
0

Socio-Economic Rights and Accountability Project (SERAP) has urged Professor Mahmood Yakubu, the Chairman of the Independent National Electoral Commission (INEC)...

Transport Minister Threatens To Sanction CCECC Over Rail Contract

Transport Minister Threatens To Sanction CCECC Over Rail Contract

by Rosemary Opara
August 14, 2022
0

The Minister of Transportation, Alhaji Mu’azu Sambo, has threatened to sanction the China Civil Engineering Construction Corporation (CCECC) for not...

Next Post
Lagos Begins Campaign to Reduce Noise Pollution

Lagos Begins Campaign to Reduce Noise Pollution

Please login to join discussion

Recommended

2.5m Lagosians Join APC

APC National Executive Committee Meets Today, To Discuss Zoning, Consensus Presidential Candidacy

4 months ago
Lagos Entrepreneurs Benefit From N369bn CBN Intervention Fund

FG, CBN Pumps N250bn To Reduce Gas Importation

1 year ago

Popular News

    Newsletter

    Connect with us

    Tags

    #EndSARS #EndSARS Protests 2023 Elections 2023 polls 2023 Presidency ACCIDENT All progressives Congress APC Babajide Sanwo-Olu Bitcoin CBN Central Bank of NIgeria China Coronavirus pandemic Covid-19 Covid-19 in Lagos Covid-19 in Nigeria Covid-19 Vaccine Cryptocurrency Donald Trump Dubai EFCC Federal Government Federal Government of Nigeria Fraud Gov. Sanwo-Olu Insecurity Lagos state Lagos State Government Lagos State House of Assembly Lagos State Police command LASEMA Latest jobs in lagos Lekki Tollgate Shooting Muhammadu Buhari Murder Naira NDLEA Nigeria Rape Russia Strike action UK United states US

    News

    • Business
    • National
    • Politics
    • Tech

    Opinion

    • Editorials
    • Today’s Opinion
    • Letters
    • Sunday Review
    • Advertise
    • Opinion
    • Features & Interviews
    • Investigation
    • Contact

    © 2020 The Lagos Today - Nkali.

    No Result
    View All Result
    • Home
    • News
      • Lagos News
      • National News
      • World News
    • Entertainment
    • Opinion
    • Business
    • Features & Interviews
    • Best Of Lagos
    • Things To Do

    © 2020 The Lagos Today - Nkali.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Create New Account!

    Fill the forms bellow to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    %d bloggers like this: