Naira Loses 0.03% at I&E FX Window to Trade at N362.19/$

naira depreciate

By Modupe Gbadeyanka

The local currency suffered a marginal loss of 0.03 percent at the Investors and Exporters (I&E) foreign exchange segment on Thursday.

The Nigerian Naira, at the close of transactions yesterday, depreciated by 11 kobo against the Dollar to close at N362.19.

The local currency had traded at N362.08 per Dollar at the I&E forex window on Wednesday, but it slipped to N362.19 at the close of business yesterday.

However, the Naira remained unchanged on Thursday at the interbank segment of the market, trading at N306 to a Dollar.

Also at the parallel market, the local currency stood its ground, exchanging at N360 per Dollar.

At the same black market, the Naira appreciated by N1 against the Pound Sterling to close at N474, while it gained N2 against the Euro to exchange at N415.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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