Naira Sustains Loss at Parallel, Official I&E Window to N1,170/$1, N808/$1

Nume   Ekeghe

The Naira sustained its slide against the dollar as it weakened further at the parallel and official I&E window where it exchanged at N1170/$1 and N808.27/$1.

The official I&E window at N808.27 depreciated from N782.68/$1 it closed the previous day. However, intra-day trade from the data obtained by FMDQ showed that the highest spot rate exchanged at N885/$1 while the lowest spot rate recorded was N700/$1.

The slide continued further at the parallel market with the Naira trading at N1,170/$1 compared to N1160/$1 recorded from the previous day. 

Notably the official I&E window reported a daily volume turnover of $79.26 million a 18.69 per cent decline compared to $97.47 million, it recorded the previous day.