Naira depreciates against dollar at N420

On Thursday, the naira depreciated further at the Investors and Exporters Window, exchanging at N420 to the dollar, a 0.30 per cent depreciation, weaker than N418.75 traded on Wednesday.

The open indicative rate closed at N416.50 to the dollar on Thursday.

An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at N420.

The Naira sold for as low as 412.38 to the dollar within the day’s trading.

A total of 160 million dollars was traded in foreign exchange at the official Investors and Exporters Window on Thursday.