Naira drops against dollar by 0.46%

The Naira depreciated against the dollar on Monday, exchanging for N463.50 at the investors’ and exporters’ window.

The rate represents a decrease of 0.46 percent when compared to the N461.38 it exchanged to the dollar at the close of business on March 31.

The open indicative rate closed at N461.80 to the dollar on Monday.

A spot exchange rate of N466 was used for trading within the day before it settled at N463.50.

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 US$ 175.40 million was traded at the official Investors’ and Exporters’ window.