Naira depreciates against dollar, exchanging N461.50/$; N749/$ at Black market

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

The rate represented a decrease of 0.04 per cent 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 to the dollar on Monday.

An exchange rate of N462.42 to the dollar was the highest rate recorded within the day’s trading before it settled at N461.50.

The naira sold for as low as N460 to the dollar within the day’s trading.

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

Meanwhile, the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N742 and sell at N748 on Monday 27th March 2023, according to sources at Bureau De Change (BDC).

(NAN)

Newsflash Nigeria is an online newspaper that is developed and written exclusively for Nigerians. It’s packed with up-to-the-minute Local and National Economy News, Share & Capital Market, Health, Sports, Education, Technology, Business and Opinions.

To make further advert enquiries or place an order, please contact us at [email protected] and +2348053316946 and WhatsApp number 08033546732