BREAKING: Naira Weakens To 770.38/$ At Official Market

The naira slumped further to the dollar after closing at 770.38/$ at the end of trading on the investor & exporter forex window on Monday.

According to figures obtained from the FMDQ on Monday, the trading rates had closed at N686.96/$ on Friday.

Trading opened at N703.50/$ and hit a high of N799/$ before closing at N770.38/$.
The I& E forex window recorded a total turnover of $78.03m at the close of trading on Monday.

The Central Bank of Nigeria, last week directed Deposit Money Banks to remove the rate cap on the naira at the I&E window to allow for a free float of the national currency against the dollar and other global currencies.