Naira continues to weaken at Investors’ Forex market, exchanges $/N363.96

Pressure continued to mount on the Naira at the Investors and Exporters (I&E) foreign exchange window, weakening 0.07 per cent against the Dollar on Thursday.

It opened at N363.55 at the I&E forex window , trading high at N364.50 and eventually closed at N363.96, representing a 0.07 per cent depreciation as against yesterday’s position.

Investors exchanged a  total of $600.45 million was transacted through the I&E window .

At the interbank, the Naira/USD spot and SMIS rates remained stable to close atN306.95/$ and N358.51/$ respectively.

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

At the parallel markets, the cash rates appreciated by 20k to close at N360.80/$.