At the official Investors and Exporters window, the naira and the US dollar exchange rate closed at N411.07/$1.
On Monday, the naira lost 0.08 percent versus the US dollar, closing at N411.07 per dollar, down from N410.75 per dollar on Friday, June 4th, 2021.
The naira, on the other hand, stayed unchanged against the US dollar on Monday, closing at N502 per dollar on the parallel market. On Friday, June 4, 2021, the rate was the same as it was on Friday, June 4, 2021.
The supply of dollars fell by 34.5 percent after the Nigerian Central Bank announced an increase in forex allocation to deposit money banks for SMEs, travelers, and others in order to boost liquidity.