The naira depreciated 1.39 per cent to N385.53 against the dollar at the Investors and Exporters (I&E) foreign exchange window on Thursday as the Central Bank of Nigeria (CBN) stopped the sale of forex to bureau de change operators in the country.
The currency at the I&E forex window opened at N382.06, traded high at N388.12 and eventually closed at N385.53, representing 1.39 per cent depreciation against the previous day’s closing position.
Investors transacted a total of $128.79 million through the I&E window.
Association of Bureau de Change Operators of Nigeria (ABCON) in a release on Thursday explained the apex bank suspended forex sales to its members till further notice based on its recommendation.
It stated that it made the request due to the impact of the coronavirus pandemic that is ravaging the world, which a slowed down economic activities in the country.
The Naira at the official window closed unchanged at 361.00/$1, against yesterday’s position, while closed flat at ₦400/$ at the parallel market.