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The Naira, at the end of last week, depreciated further in the Investors and Exporters (I&E) window, despite the CBN increasing its weekly intervention to N559.34m.
Data from FMDQ OTC Securities Exchange showed that the indicative exchange rate for the investors and exporters window rose to N360.75 per dollar last week from N360.41 per dollar in the prior week. This translates to a loss of 34kobo for the Naira. On the parallel market, the currency remained stable trading at N362 per dollar.
Meanwhile, the volume of dollars traded in the Investor and Exporters window dropped from $1.04billion to $1.02 billion last week; a 2% decline.
The CBN increased its weekly intervention to N559.34, which comprised of $210 million injection on Wednesday and $349.34 million on Friday
Photo Credit: The Guardian
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