By Milcah Tanimu
On Wednesday, the Nigerian naira experienced a depreciation against the US dollar as it was traded at a rate of N756.21 at the Investors and Exporters window. This represented a 1.48% decline compared to the previous day’s rate of N745.19 for one US dollar.
The open indicative rate concluded at N766.82 to the dollar on Wednesday, reflecting the currency’s fluctuating performance throughout the trading day. The day’s highest recorded exchange rate was N799.90 to the dollar before it eventually settled at N756.21.
During the trading session, the naira was also seen selling for as low as N701 to the US dollar. In total, the investors and exporters window witnessed a trading volume of US$95.70 million on Wednesday.
