The Naira further depreciated against the dollar during the beginning of the week at the Investors and Exporters (I&E) window, as it exchanged for N430 on Monday, August 15, 2022 and N431 on Tuesday, August 16, 2022.
The figure represented a decrease of 0.09 per cent compared with the N429 it exchanged for the dollar on Friday, August 12, 2022, even as the open indicative rate closed at N429.70 to the dollar on Monday.
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An exchange rate of N444 to the dollar was the highest rate recorded within the day trading before it settled at N430, while the naira sold for as low as N417 to the dollar during the day’s trading.
Also, a total of 134.30 million deals were traded in foreign exchange (forex) at the official investors and exported window on Monday, while The Trumpet checks on Monday and Tuesday at parallel market locations at Ikorodu and Allen Avenue in Ikeja, Lagos, showed that the naira sold for between N630 and N645 to the dollar, depending on the location and seller.