Naira starts new month weak, loses 0.15% at investors’ forex window

The Naira started August weak, devaluing 0.15 per cent to exchange N362.23 against the Dollar.

It opened at N362.03, traded high at N364.00 and eventually closed at N362.23 representing a 0.15 per cent depreciation as against yesterday’s closing position.

A total of $123.08 million was transacted through the I&E window, while market turnover hit its lowest level since January at $64 million.

At the interbank, the Naira/USD rate remained stable at N306.85/
$ (spot) and N357.68/$ (SMIS).
The Naira exchange rate at the parallel market, the cash and transfer rates remained stable at N357.50/$ and N362.00/$ respectively.