Naira depreciates, exchanges at 444.50 to dollar at official market

The Naira on Thursday exchanged at 444.50 to the dollar at the Investors and Exporters window, a depreciation of 0.64 per cent, compared with N441.67 to the dollar it exchanged on Wednesday.

The open indicative rate closed at N441.25 to the dollar on Thursday.

An exchange rate of N450.06 to the dollar was the highest rate recorded within the day’s trading before it settled at N444.50. The Naira sold for as low as 425 to the dollar within the day’s trading.

A total of 100.90 million dollars was traded at the official Investors and Exporters window on Thursday.

A total of 81.04 million dollars was traded in foreign exchange at the official Investors and Exporters window on Wednesday.

Meanwhile, the local unit crashed significantly at the street market on Wednesday.

Traders  said the dollar was exchanged at N755 on Wednesday as against N760 it traded on Tuesday.