The dollar to naira exchange rate improved slightly at the black market selling $1 to N810 against previous trading of $1/N825 while the naira fell again at buying rate of $1/820 as at Monday.
Sources from black market confirmed to Economic Confidential that the trading indicated a 6.6 per cent decline in volume of dollars at the I&E window.
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The Naira traded N803.9 to a dollar in the Investors & Exporters (I&E) window which is the official forex market and N822/$ in the parallel market at the weekend.
A black market source disclosed that the demand for dollars increases everyday but the supply is very little, “Dollar was scarce and the demand and supply are inconsistent. The rising demand, and hoarding are issues driving the renewed depreciation of the naira in both segments of the forex market.
Although, dealers said they were disappointed that the increase in supply they expected last week did not materialise but hope on the demand to bring a change before trading closes on Monday.
