Monday, August 8, 2022

Naira continues free fall at official rate; exchanges at N426.58 per dollar

The figure represented a depreciation of 0.57 per cent compared with N424.17 it exchanged for the dollar on Tuesday.

• July 20, 2022
Naira and Dollar
Naira and Dollar

The naira lost against the dollar on Wednesday at the Investors and Exporters’ window, exchanging at N426.58.

The figure represented a depreciation of 0.57 per cent compared with N424.17 it exchanged for the dollar on Tuesday.

The open indicative rate closed at N426.50 to the dollar on Wednesday.

An exchange rate of N444 to the dollar was the highest rate recorded within the day’s trading before it settled at N426.58.

The naira sold for as low as N414 to the dollar within the day’s trading.

A total of 144.03 million dollars was traded in foreign exchange at the official Investors and Exporters’ window on Wednesday. 

Peoples Gazette had earlier in the day reported that the naira slumped to new lows at the parallel market, exchanging at N630 to the U.S. dollar, per Aboki Forex.


We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Yohanna Margif


Labour Party’s Yohanna Margif arrested for fraud: Police 

The police said Mr Margif was arrested for issuing dud cheque to a business partner.

Sanusi Lamido Sanusi

Heading 3

There’ll be no Nigeria for youths if they don’t speak up: Sanusi Lamido

“Ask questions, clarify issues, don’t sweep issues under the carpet.”

Ese Brume

Hot news Home top

#CWG2022: Ese Brume breaks Commonwealth Games record with gold win

She leapt 7.00 metres to set the record, after doing a no jump, 6.99 metres, 6.81 metres, 6.99 metres and 6.96 metres in her earlier jumps.

Governor Babajide Sanwo-Olu at Red Line Train Project


Lagos Red Line train to begin operations in January: Sanwo-Olu

Mr Sanwo-Olu said this while addressing journalists, after the inspection of the Red Line Train Project at Agege, Ikeja, Mushin and Ebute Meta areas of the state.


Tinubu’s Fulani group condemns killings, insecurity

The scribe said that leaders and members of AMFON were solidly behind Mr Tinubu to actualise his ambition to become Nigeria’s next president in 2023.

SP Benjamin Hundeyin


Police eliminate ‘Foreigner’, ‘Kiki’: armed robbers terrorising Lagosians

“The daredevil robbers engaged operatives of Area B Apapa in a gun duel in a bid to escape arrest.”