Finance
Naira depreciates 0.9% to $/N362.57 at Investors’ Forex Window
The Naira exchange rate depreciated by 0.9 per cent on Friday at the Investors and Exporters (I&E) FX window.
The local currency opened at the I&E forex window at N362.09, traded high at N363.25 and eventually closed at N362.57 representing a 0.09 per cent depreciation.
A total of $64.95 million was transacted through the I&E window and market turnover volume traded increased by 350 per cent to $293 million.
At the interbank, the Naira/USD rate remained stable at
N306.85/$ (spot) and N357.68/$ (SMIS).
Similarly, at the parallel market, the cash and transfer rates remained stable at N357.50/$ and N362.00/$ respectively.