Naira weakens by 0.44% to N460/$1 at parallel forex market

Pressure continued to mount on the naira as it weakened 0.44 per cent to N460 against the dollar at the parallel foreign exchange market on Tuesday, from N458/$1.

The Naira at the official window closed unchanged at 361.00/$1, against the previous day’s position.

The Investors and Exporters (I&E) FX window opened at N389.75, traded high at N389.75 and eventually closed at N386.63, representing a 0.16 per cent appreciation against previous day’s closing position.
A total of $38.12 million was transacted through the I&E window.