Naira down to N364.98/$ at Investors’ Forex Window

The pressure continued to mount on the Naira at the Investors and Exporters (I&E) foreign exchange window as it weakened 0.05 per cent to N364.98 against the Dollar on Friday.

The currency opened at N364.60 in I&E Forex window, traded high at N366.00 and eventually closed at N364.98, as investors traded a total of $19.05 million through the I&E window.

At the Interbank, the Naira/USD and SMIS rate remained unchanged at N307.00/$ and N358.51/$ respectively to close out the week.

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Also, the parallel market segment, the cash and transfer rates remained unchanged at N360.50/$ and N363.50/$ respectively.

The country’s foreign reserves has declined almost -11 per cent to $43.08 billion on January 2, 2020, from $38.54 billion in the corresponding period last year.

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