Naira fell against the United States dollar on the Investors and Exporters on Thursday to trade at N702.19 per dollar, extending losses to two successive business days after the Central Bank of Nigeria (CBN) announced the unification of all segments of the Nigerian forex market.
According to data from the FMDQ securities exchange window
where forex is traded, the naira which opened the day’s sales at N658.50
touched an intraday high of N461.00 and a low of N791.00 before closing at
N702.19 per $1 on Thursday.
The change represents a N38.15 or 5.75 per cent depreciation
from M664.04 per dollar the local unit exchanged at the I & E window on
Wednesday.
Forex supply within the official segment dropped by 63.4 per
cent ($70.74 million) from $193.33 posted in the previous market segment on
Wednesday.
Meanwhile, the naira was exchanged at N756.3 per dollar at
the parallel market on Thursday.
Thu June, 11:05:01 AM
— ₦aira Rates (@naira_rates) June 15, 2023
💵 1 USD >>>>> ₦756.287
💷 1 GBP >>>>> ₦971.484
💶 1 EUR >>>>> ₦831.215
v1.0.7
The new development leaves the spread between the official
and unofficial markets at 7.7 per cent on Thursday with a margin of N54.11.