Naira sheds 0.07% to N365.63 against Dollar at Investors’ forex market

As crude oil continues to tumble due to the Coronavirus epidemic, the Naira depreciated 0.07 per cent to N365.63/$ at the Investors and Exporters (I&E) foreign exchange window on Thursday.

The currency had opened at the I&E forex segment at N365.63, traded high at N367.00 and eventually closed at N366.57, representing a 0.07 per cent depreciation against the previous day’s closing position.

Investors transacted a total of $195.50 million through the I&E window.

At the official window the Naira was unchanged at 307.00/$1, against yesterday’s position.

At the Interbank, the Naira/USD spot rate and SMIS rate remained unchanged to close at N307.00/$ and N358.51/$ respectively.

The parallel market, the cash and transfer rates remained unchanged at N358.30/$ and N368.00/$ respectively.