Business
Naira depreciates marginally by 0.02% to N306.90/$1 in investors’ FX window
The Naira lost 0.02 per cent against the Dollar at The Investors and Exporters (I&E) FX window to close at N306.90/$1.
The local currency opened at N361.60, traded high at N364.00 and eventually closed at N362.21 representing a 0.02 depreciation as against last Friday’s closing position.
A total of $293.60 million was transacted through the I&E window on Monday as volume traded declined by c.58 per cent to $124million,
At the interbank, the Naira/USD rate inched higher by 5k to
N306.90/$ at the spot market, while the SMIS rate remained unchanged at N357.68/$.
And the parallel market, the cash and transfer rates remained stable at N357.50/$ and N362.00/$ respectively.