Naira depreciates 0.03% to $/N360.80 at Investors Forex market

The Naira depreciated by 0.03 per cent against the at the Investors and Exporters (I&E) Forex window on Thursday.

The dollar opened at N360.45 at the I&E Forex window, traded high at N361.50 and eventually closed at N360.80, representing a 0.03 per cent depreciation against yesterday’s closing position.

A total of $116.29 million was transacted through the I&E window and the market turnover declined  by 62 per cent to $116 million.

At the parallel market, the cash rates depreciated by 0.08 per cent to N358.20/$, while the transfer rate remained unchanged at N364.00/$ respectively.

The exchange rate was unchanged at N306.95/$ (spot) and N355.78/$ (SMIS) at the Interbank market.