Naira depreciates against the dollar

Naira depreciated against the Dollar, losing 9 kobo, representing 0.02 per cent to S/N363.70 at the Investors and Exporters (I&E) foreign exchange window on Wednesday.

 

However at the official rate, it remains unchanged to close at N306.95/$1 as against yesterday’s position.

 

A total of $86.62 million was traded by investors through the I&E window on Wednesday.

 

At the interbank, the Naira/USD spot and SMIS rates remained stable to close at N306.95/$ and N358.51/$ respectively.

 

The Naira remained stable at the parallel markets, as both the cash and transfer rates closed unchanged at N361.00/$ and N363.50/$ respectively