Naira depreciates 0.25% to N360/$ at parallel market

The cash rate of the Naira depreciated 0.25 per cent to close at N360.00/$ at the parallel market depreciated, while the transfer rate remained unchanged at N362.50/$ on Monday.

 The local currency was stable at N360.50/$ at Investors and Exporters (I&E) FX window, having opened at N360.25, traded high at N361.50 and eventually closed at N360.50.

A total of $208.16 million was transacted through the I&E window.

At the interbank, the Naira/USD rate appreciated by 0.02 per cent to close at N306.95/$ (spot) but remained unchanged at N356.92/$ (SMIS).