Naira Falls Further Against Dollar at I&E Window
How the naira lost value against the dollar at the official and parallel markets
The naira on Thursday depreciated against the dollar at the Investors and Exporters window, exchanging N469.50 to dollar.
The local currency showed a 1.04 per cent decrease when compared with N464.67 it exchanged for the dollar on Wednesday.
The open indicative rate closed at N468.94 to the dollar on Thursday.
An exchange rate of N476.50 to the dollar was the highest rate recorded within the day’s trading before it settled at N469.50.
A total of $74.18 million dollars was traded at the official Investors and Exporters window on Thursday.
Meanwhile, the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N750 and sell at N760 on 8th June, 2023, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Also, take note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
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