Naira weakens against dollar by 0.29%
ABUJA, Nigeria (The Informant247) – Naira depreciated against the U.S. dollar on Tuesday.
At the Investors and Exporters window on Tuesday, the Naira depreciated against the dollar, trading for N436.00 as against N434.75 on Monday.
On Tuesday, the open indicative rate closed at N433 to the dollar.
An exchange rate of N437.50 to the dollar was the highest rate recorded within the day’s trading before it settled at N436.
The Naira sold for as low as N425 to the dollar within the day’s trading.
A total of 63.05 million dollars was traded at the official Investors and Exporters window on Tuesday.
Analysts have blamed the continuous weakening of the naira on rising import bills, dollar savings and the accumulation of cryptocurrencies by Nigerians.
