Naira Loses, Exchanges N773.42 at I&E Window, N895 at Black Market

The naira depreciated against the dollar on Wednesday as it exchanged at N773.42 at the Investors and Exporters window.

According to a report by the News Agency of Nigeria (NAN), the naira lost by 0.35 per cent compared with N770.72 for which it exchanged for the dollar on Tuesday.

The open indicative rate closed at N781.49 to the dollar on Wednesday.

A spot exchange rate of N799.90 to the dollar was the highest rate recorded within the day’s trading before it settled at N773.42.

The naira sold for as low as N738 to the dollar within the day’s trading.

A total of 169.07 million dollar was traded at the investors and exporters window on Wednesday.

ECONOMIC CONFIDENTIAL also reports that the naira exchanged 895 to a dollar at the parallel market on Wednesday night.