Naira trades N425.75 in I&E, N610 per dollar in black market


ON July 4, the naira depreciated to N425.75 per dollar in the Investors and Exporters (I&E) window.

Data from FMDQ showed that the indicative exchange rate for the window rose to N425.75 per dollar from N425 per dollar last week Friday, indicating 75 kobo depreciation for the naira.

The volume of dollars traded (turnover) on the window fell by 39.6 percent to $47.56 million from $78.86 billion last week Friday.

However, findings from black market traders showed that the indicative exchange rate for the parallel market was stable at N610 per dollar.


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