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Naira weakens by 0.14% to N358.90/$

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7 years ago

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The Naira depreciated further against the Dollar on Tuesday as the cash rate it weakened by 0.14 per cent to N358.90/$, whilst the transfer rate remained unchanged at N364.00/$ at the parallel market.

The Investors and Exporters (I&E) FX window opened at N360.30, traded high at N362.00 and eventually closed at N360.55, representing 0.04 per cent appreciation against yesterday’s closing position.

A total of $88.79 million was transacted through the I&E window on Tuesday as market turnover improved by 50 per cent to $132 million.

At the Interbank, the Naira/USD rate was unchanged at N307.00/$ (spot) and N355.78/$ (SMIS).

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