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Naira trades at N402/$ stabilizing at the black market

The Naira depreciated against the dollar at the Investors and Exporters (I&E) window on Wednesday, closing at N394/$1.


It traded officially at N402/$ at the Investors & Exporters’ forex window on Thursday. 

Trading which commenced at an opening rate of N392.88/$, recorded a high of N402/$ and a low of N385/$. 

It however, pegged the Central Bank of Nigeria’s official rate at N379/$ on its website. 
 
 I&E FX window is the market trading segment for investors, exporters and end-users that allows for FX trades to be made at exchange rates determined based on prevailing market circumstances. 

 It ensures efficient and effective price discovery in the Nigerian FX market. 

 The I&E FX window was established by the Central Bank of Nigeria in 2017.

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