Customs increases FX rate for collection of duties from N770/$ to N783/$

Naira weakened 0.16 per cent to N386.63/$1 at the Investors and Exporters (I&E) Foreign Exchange window on Wednesday as liquidity remained low.

It opened at N386.00, traded high at N389.75, and eventually closed at N386.63, representing a 0.16 per cent depreciation against the previous day’s closing position.

Investors exchanged a total of $90.09 million was transacted through the I&E window.

At the official window naira unchanged at 361.00/$1, against the previous day’s position, while at the parallel forex market, the local currency was flat at N455/$1.

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