Naira falls against dollar on I&E window market

Naira weakened against the U.S. dollar on the Investors & Exporters window of the foreign exchange market on Monday, data posted on the FMDQ Security Exchange market where currencies are officially traded showed.

Naira depreciated against the greenback currency as turnover contracted by 40.32 per cent, with $57.78million recorded as against the $96.82 million posted on Friday. This leaves a spread of N81.50 between the unofficial market and the I&E window exchange rates, which translates to a gap of 20.45 per cent.

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