Currency swap: Naira drops against dollar

The Naira depreciated against the dollar, exchanging N461.50 at the investors’ and exporters’ window on Monday.

The rate represented a decrease of 0.04 per cent when compared to the N461.33 for which it exchanged to the dollar before the close of business on March 24.

The open indicative rate closed at N461.75 against the dollar on Monday.

An exchange rate of N462.42 against the dollar was the highest rate documented within Monday’s trading before it settled at N461.50.

The Naira sold for as low as N460 to the dollar within Monday’s trading.

A total of 101.77million dollars was traded at the official investors’ and exporters’ window.

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