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Naira begins new week on negative note

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Naira on Monday depreciated against the dollar, exchanging at N463.50 at the Investors and Exporters window.

The local currency decreased by 0.11 per cent as against N463 it exchanged for the dollar at the close of business on May 19.

The open indicative rate closed at N463.50 to the dollar on Monday.

An exchange rate of N467 to the dollar was the highest rate recorded within the day’s trading before it settled at N463.50.

The naira sold for as low as 460 to the dollar within the day’s trading.

A total of 106.84 million dollars was traded at the official Investors and Exporters window.

Lydia Ngwakwe

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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