July 28, 2023

Naira depreciates to N768.6/$ in I&E window


By Elizabeth Adegbesan

The naira yesterday depreciated to N768.6 per dollar in the Investors and Exporters, I&E window.

Data from FMDQ showed that the indicative exchange rate for the Investors and Exporters (I&E) window rose to N768.6 per dollar from N740.08 per dollar from Tuesday, indicating N28.52 depreciation for the naira.

Similarly, the naira depreciated to N870 per dollar in the parallel market yesterday from N867 per dollar on Wednesday, indicating N3 depreciation.

Consequently, the gap between the official and parallel market exchange rates widened to N101.4 per dollar yesterday from N126.92 per dollar on Wednesday.