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Again, naira drops against dollar by 0.14%

May 17, 2023

The naira, on Tuesday, May 16, depreciated against the dollar, exchanging for N464.67 at the Investors and Exporters window.

The rate represents a decrease of 0.14 per cent when compared to the N464 it exchanged for the dollar on Monday.

The open indicative rate closed at N463.96 to the dollar on Tuesday.

A spot exchange rate of N467 was used for trading within the day before it settled at N464.67.

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 $127.72 million was traded at the official Investors and Exporters window.