Naira loses, exchanges at N420.50 to dollar

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A clerk at a money exchange bureau counts Naira, Nigerian currency, in Maiduguri, Nigeria, on Wednesday, May 1, 2019. Photographer: Jean Chung/Bloomberg
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By Lydia Ngwakwe

Lagos, June 22, 2022 The Naira on Wednesday depreciated at the Investors and Exporters window, exchanging at N420.50 to the dollar, a 0.05 depreciation against N420.27 traded on Tuesday.

The open indicative rate closed at N419.46 to the dollar on Wednesday.

An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at N420.50.

The Naira sold for as low as N412 to the dollar within the day’s trading.

A total of 71.99 million dollars was traded in foreign exchange at the official Investors and Exporters window on Wednesday.