Naira depreciates in parallel market, Investors’ FX Window

The value Naira dipped at the parallel market and Investors and Exporters (I&E) FX window on Tuesday.

At the parallel market, the cash rate depreciated further by 0.08 per cent to N358.50/$, while the transfer rate remained unchanged at N365.00/$, while the transfer rate remained unchanged at N365.00/$.

While the local currency devalued 0.04 per cent, having opened at N361.88/$ at the Investors and Exporters (I&E) FX window and closed at N362.20/$.

A total of $75.84 million was transacted through the I&E window.

Meanwhile, Naira at the inter-bank rate remain unchanged to closed at N306.80.