Naira depreciates to N464.42 against Dollar at official exchange market

Just five days before the new administration’s inauguration, the Naira declined in the Investors and Exporters window on Tuesday, trading for N464.42 to the dollar.

The amount shows a 0.20 percent decline from the N463.50 exchanged on Monday, the previous trading day.

As a result, the open indicative rate on Tuesday closed at N464.10 to the dollar.

Prior to settling at N464.42 on Tuesday, the highest rate ever recorded during trade was N632 to the dollar.

In the course of the day’s trade, the naira fell as low as 460 to the dollar.

As a result, $215.91 million was exchanged in the official Investors and Exporters window.

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