The Naira depreciated against the dollar at the Investors and Exporters (I&E) window on Wednesday.
Forex turnover improved by 135% as Nigeria’s exchange rate at the NAFEX window depreciated after yesterday’s trading day gain to close at N386/$1 during intraday trading on Wednesday, September 23.
Also, the Naira depreciated closing at N467/$1 at the parallel market on Wednesday, September 23, 2020, despite another round of forex allocation to BDC operators by CBN.
Parallel Market: At the black market where forex is traded unofficially, the Naira depreciated against the dollar to close at N467/$1 on Wednesday, according to information from Abokifx, a prominent FX tracking website. This represents a N2 drop when compared to the N465/$1 that it exchanged on Tuesday, September 22.
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