Naira depreciates further 0.10% to $/N361.61 at Investors’ Forex Window

The Naira further depreciated by 0.10 per cent against the Dollar at the Investors and Exporters (I&E) FX window on Wednesday, having opened at N360.99, traded high at N362.50 and eventually closed at N361.61.

Investors exchanged a total of $340.04 million  the I&E window and market turnover however moderated slightly by 18 per cent to $279m.

At the parallel market, the cash and transfer rate remained stable at N358.10/$ and N361.50/$ respectively.

The local currency remained stable at N306.95/$ (spot), and N357.70/$ (SMIS) at the interbank market.