22 September 2017

Nigeria: Naira Depreciates Further to N360.33/$ in Nafex

The naira, yesterday, depreciated further to N360.33 per dollar in the Investors and Exports (I&E) Foreign Exchange, forex Window.

Data from the Financial Market Dealers Quote, FMDQ showed that the indicative exchange rate for the I & E Window, known as Nigerian Autonomous Foreign Exchange, NAFEX declined to N360.33 per dollar, yesterday, from N360.25 per dollar on Wednesday. Hence the naira has depreciated marginally by 8 kobo per dollar.

Meanwhile, in the parallel market, the naira, yesterday, maintained the N367 per dollar it exchanged on Wednesday.

The naira had traded highest this month at N362 per dollar, while the lowest was N350 per dollar in the I & E Forex Window.

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