The naira experienced a decline of 3.85 per cent in the Investors’ and Exporters’ window on Thursday, as the dollar strengthened against the Nigerian currency. Dealers raised their selling price to N768.60/$1, marking an increase of N28.52 kobo compared to the previous day’s rate of N740.08/$1. The exchange rate reached a high of N869/$1 and a low of N730/$1 during the day.
Foreign exchange traders transacted $88.66 million worth of forex in the Investors’ and Exporters’ window, indicating a 42.15 per cent increase from the previous day’s transactions. Meanwhile, in the black market, the average dollar rate stood at N859.3/$1, with the naira to pound rate at N1130.4/£1 and the naira to euro rate at N969.2/€1.
