Naira weakens by 0.04% to ₦385.83/$1 in I&E forex window

The Naira depreciated further at the Investors and Exporters (I&E) foreign exchange window on Monday as dollar scarcity continues to bite hard in the country.

The Naira opened at the I&E forex window at N386.33, traded high at N387.00, and closed at N385.83, representing a 0.04% depreciation against the previous day’s closing position.

A total of $41.48 million was transacted through the I&E window.

The Naira at the official window closed at 381.00/$1, unchanged against the previous day’s position.

And at the parallel forex market, the dollar was sold for N475 the same rate it was exchanged on Friday.