Nigerian Naira weakens by 0.45% to N447/$ at parallel forex market

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The Naira depreciated 0.45 per cent to N447/$ at the parallel market on Thursday as pressure continues to mount at Nigerian foreign exchange market.

Also, the local currency lost 0.10 per cent at the Investors and Exporters (I&E) FX window, having opened at N387.50, traded high at N389.99 and eventually closed at N386.70.

Investors exchanged a total of $24.64 million through the I&E window.

The Naira at the official window on Thursday closed unchanged at 361.00/$1, against yesterday’s position.

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