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Naira Falls to N765.13/$ in Investors & Exporters window

Waffi TV’s investigation with black market traders revealed that the exchange rate in the parallel market rose from N758 per dollar on Wednesday to N772 per dollar.

By Johnson Atoukudu:

Yesterday, the Nigerian currency, the naira, experienced a decrease in value against the US dollar in the Investors and Exporters (I&E) window. According to data from FMDQ, the indicative exchange rate for the I&E window increased from N763.17 per dollar on Wednesday to N765.13 per dollar, indicating a depreciation of N1.96 for the naira.

Similarly, the naira depreciated by N14 in the parallel market. Waffi TV’s investigation with black market traders revealed that the exchange rate in the parallel market rose from N758 per dollar on Wednesday to N772 per dollar.

On Thursday, the transaction volume at the I&E window showed improvement compared to the previous day, with a turnover exceeding $90 million.

Furthermore, the naira also weakened against the British Pound Sterling (GBP) and closed at N980 per GBP at the end of business on Thursday.

The I&E window, established in June 2017, represents the broader foreign exchange market in Nigeria. It facilitates the trading of dollars obtained from independent sources among Authorized Dealers, Clients, and the Central Bank of Nigeria (CBN).

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