Naira devalues 0.04% to $/N361.25 at Investors’ Forex Window

The value of the Naira declined marginally by 0.04 per cent, having opened at N360.59, traded high at N362.00 and eventually closed at N361.25 at Investors and Exporters (I&E) foreign exchange window on Tuesday.

Investors traded a total of $161.85 million through the I&E window, whilst the market turnover rose higher by 110 per cent to $340 million.

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

The Naira/USD rate remained stable at N306.95/$ (spot), and N357.70/$ (SMIS) at the interbank.