By John Ikani
The Naira on Monday depreciated marginally against the dollar at the Investors and Exporters window, exchanging at N429.43.
The exchange rate dipped slightly to close at N429.43/$1 compared to N429.05/$1 recorded on Friday 19th August, 2022, representing a 0.09% depreciation.
This was even as forex supply surged by 222.3% to $161.94 million from 50.22 million that exchanged hands in the previous trading session.
The open indicative rate closed at N429.07 to the dollar on Monday.
An exchange rate of N432 to the dollar was the highest rate recorded within the day’s trading before it settled at N429.43 while the Naira sold for as low as N415 to the dollar within the day’s trading.
The local unit traded at N691/$1 on Tuesday morning, 23rd August 2022 at the peer-to-peer FX market, indicating a depreciation of 0.16% compared to N689.9/$1 recorded in the previous trading session.
