Naira Depreciates to N770 to a Dollar

On Monday, June 19, the Naira closed at N770 per dollar in the investors and exporters (I&E) window.

According to FMDQ Securities Exchange Limited, Monday’s closing rate marks a 16.1 percent decrease from the N663 reported on the previous trading day (Friday).

Though the Naira has failed to stabilise following federal government adjustments in Nigeria’s foreign currency (FX) market, data on FMDQ shows that investors exchanged roughly $78 million in trades on the I&E window.