Naira trades at N773.4/$ in I&E window

The Naira traded at N773.4/$ at the investors and exporters (I&E) window.

Data from FMDQ Securities Exchange showed that the local currency opened with an exchange rate of N781.49 to the dollar and sold for an intra-day high of N799.9/$ before it settled at N773.4/$ on Wednesday, August 23. This represented a 0.35 percent depreciation. 

A total of $45.34 million in FX value was traded at the I&E window on Wednesday. 

At the parallel market, traders bought dollar at N885 and sold at N905, leaving a profit margin of N20.