Naira Further Depreciates Against U.S. Dollar

Category: Business News

The Naira, on Wednesday, exchanged at 419.25 to the dollar at the Investors and Exporters window, compared to 418.50 traded on Tuesday, representing 0.18 per cent depreciation.

The open indicative rate closed at N418.00 to the dollar.

An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at N419.25.

The Naira sold for as low as 410 to the dollar within the day’s trading.

A total of 201.34 million dollars was traded in foreign exchange at the official Investors and Exporters window on Wednesday.

In the unofficial market, the Naira was trading well over N600 per dollar.