Naira drops at Investors and Exporters window

The Naira on Tuesday depreciated at the Investors and Exporters window, against the dollar, exchanging at N431.

The figure represented a decrease of 0.90 percent compared with the N427.17 it exchanged for the dollar on Monday.

The open indicative rate closed at N427.30 to the dollar on Tuesday.

An exchange rate of N444 to the dollar was the highest rate recorded within the day’s trading before it settled at N431.

The local currency sold for as low as N414 to the dollar within the day’s trading.

A total of 58.03 million dollars was traded in foreign exchange at the official Investors and Exporters’ window on Tuesday.