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.