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Naira loses again, exchanges at 436.50 to dollar

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Naira exchanges at N359.4 to dollar at parallel market

The Naira depreciated against the dollar at the Investors and Exporters window on Wednesday as it exchanged at N436.50.

Wednesday’s rate represented a 0.06 per cent depreciation compared to the N436.25 for which the dollar exchanged on Tuesday.

The open indicative rate closed at N44. 75 to the dollar on Wednesday.

An exchange rate of N438 to the dollar was the highest rate recorded within the day’s trading before it settled at N436.50.

The Naira sold for as low as N425 to the dollar within the day’s trading.

A total of 133.97 million dollars was traded at the official Investors and Exporters window on Wednesday.

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Lydia Ngwakwe

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