Naira weakens to N445/$ in parallel forex market

The Naira lost N2 to exchange N445 against the Dollar at the parallel forex market on Wednesday as the country continued to struggle with dollar scarcity.

The Investors and Exporters (I&E) FX window opened at N386.46, traded high at N394.63 and eventually closed at N386.00, representing a 0.05 per cent appreciation against the previous day’s closing position. A total of $35.18 million was transacted through the I&E window.

The Naira at the official window closed at 379.00/$1, unchanged against the previous day’s position.