Naira Begins New Week On Negative Note

The naira has depreciated some more against the dollar.

The naira depreciated on Monday as it exchanged at N747.87 at the Investors and Exporters window.

The naira dropped by 1.01 per cent compared to the N740.38 it exchanged for the dollar after the close of business on Sept. 1.

The open indicative rate closed at N772.06 to the dollar on Monday.

A spot exchange rate of N799.90 to the dollar was the highest rate recorded within the day’s trading before it settled at N747.87.

The naira sold for as low as N730 to the dollar within the day’s trading.

A total of 74.64 million dollars was traded at the investors and exporters window on Monday.