Naira depreciates against dollar(See New Rate)

The naira depreciated against the dollar on Wednesday, exchanging for N463.02 at the investors’ and exporters’ window.

The rate represents a decrease of 0.17 per cent compared to the N462.25 it exchanged to the dollar on Tuesday.

The open indicative rate closed at N463 to the dollar on Wednesday.

A spot exchange rate of N467 was used for trading within the day before it settled at N463.02.

The spot exchange rate is determined instantly.

The naira sold for as low as N460 to the dollar within the day’s trading.

A total turnover of $178.68 million was traded at the official Investors’ and Exporters’ window.