Naira loses big against dollar

the Naira

Naira and Dollars

By Lydia Ngwakwe

The Naira on Wednesday lost to the green back at the Investors and Exporters window, exchanging at 424.88 to the dollar against 421.00 traded on Tuesday.

This represents a 0.80 per cent depreciation.

The open indicative rate closed at N421.80 to the dollar on Wednesday.

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An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at N424.88.

The naira sold for as low as 410 to the dollar within the day’s trading.

A total of 112.83 million dollars was traded in foreign exchange at the official Investors and Exporters window on Wednesday.

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