On Friday, the Nigerian Naira depreciated against the US dollar at the Investors and Exporters window. It exchanged at N464.51 to the dollar, representing a 0.18% decline from N463.67 to the dollar traded on Thursday. The open indicative rate ended at N463.75 to the dollar at the close of trading on Friday.
The highest exchange rate recorded within Friday’s trading was N632 to the US dollar before it settled at N464.51. On the other hand, the Naira sold for as low as N410 to the dollar in the course of the trading day.
Unfortunately, the Naira ended the week on a negative note, as a total of $144.72 million was traded at the official Investors and Exporters window on Friday. With these developments, Nigerian traders and investors await the direction of the Central Bank of Nigeria to gain more insight into the Naira’s performance.
Overall, the Nigerian Investors and Exporters window recorded mixed trading during the week, reflecting the current economic conditions in the country.
