Naira depreciates further, loses 0.03% against dollar in I&E forex window

The pressure on the Naira continued Friday at the Investors’ and Exporter segment of the foreign exchange market as it slid 0.03 per cent to exchange $/N363.84 from $/ N363.95 the previous day.

A total of $118.19 million was traded in 480 deals, with rates ranging between $/N358.00-$/N365.00/$ at the I&E FX window.

The local currency also dipped by 0.08 per cent to $/N362.82 at the SMIS forex segment, the Naira was stable at the Interbank, trading N306.55 against the dollar.

Similarly, the dollar cash and transfer rates remained unchanged at the parallel market.