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Business News of Tuesday, 28 March 2023


Naira drops to N461.50 against dollar

Naira and Dollar Naira and Dollar

The naira depreciated against the dollar on Monday, exchanging N461.50 at the investors’ and exporters’ window.

The rate represented a decrease of 0.04 per cent compared to the N461.33 for which it exchanged to the dollar before the close of business on March 24.

The open indicative rate closed at N461.75 to the dollar on Monday.

An exchange rate of N462.42 to the dollar was the highest rate recorded within the day’s trading before it settled at N461.50.

The naira sold for as low as N460 to the dollar within the day’s trading.

A total of $101.77 million was traded at the official investors’ and exporters’ window.