Naira-dollar
Naira depreciates, trades N773.42/$ at I/E window, N905 parallel market
The naira depreciated against the dollar on Wednesday as it exchanged for N773.42 at the Investors and Exporters window.
A report by the News Agency of Nigeria revealed that the naira lost 0.35 per cent compared with N770.72/$ rate recorded on Tuesday.
The open indicative rate closed at N781.49 to the dollar on Wednesday.
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But at the parallel market, traders put the buying price of the dollar at N885 and the selling price at N905, leaving a profit margin of N20.
A spot exchange rate of N799.90 to the dollar was the highest rate recorded within the day’s trading before it settled at N773.42.
The naira sold for as low as N738 to the dollar within the day’s trading.
A total of 169.07 million dollar was traded at the investors and exporters window on Wednesday.
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