Naira Depreciates Against US Dollar at Investors and Exporters window.


May 16, 2023.

Azonuchechi Chukwu.

The Naira depreciated against the US Dollar in the parallel market, and the Investors and Exporters (I&E) segments of the foreign exchange market on Monday, May 15, as FX liquidity squeeze and rising inflation bite harder on the citizens.

At the I&E segment of the market, the local went south by N1.67 or 0.36 per cent to trade at N464.00/$1 compared with the preceding session’s value of N462.33/$1 despite the value of forex transactions going down by 65.9 per cent or $106.81 million.

In the black market, the domestic currency tumbled against the Dollar yesterday by N2 to sell at N743/$1, in contrast to the previous trading day’s rate of N741/$1.(

Azonuchechi Chukwu
Azonuchechi Chukwu
Ms Azonuchechi Chukwu has a BSC holder in mass communication Ebonyi State University

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