Naira slumps against dollar in week opening

The naira on Monday depreciated against the dollar at the Investors and Exporters window, exchanging at N430.

The figure represented a decrease of 0.09 per cent compared with the N429.62 it exchanged for the dollar before the close of business on August 12.

The open indicative rate closed at N429.70 to the dollar on Monday.

An exchange rate of N444 to the dollar was the highest rate recorded within the day’s trading before it settled at N430.

The naira sold for as low as N417 to the dollar within the day’s trading.

A total of 134.30 million was traded in foreign exchange at the official investors and exporters window on Monday. 

NAN