Exchange rate falls to N742/$1 at I&E Window

The exchange rate between the dollar and naira fell to N742/$ at the investor & exporter window yesterday at the close of business from the N795/$1 on Monday, July 17.

This is coming after the lowest ever the exchange rate fell  since Nigeria adopted the managed float exchange rate system and the first time the rate closed above N800/$1 last week.

The market opened at N782.79/4. It reached a peak of N832 and a low of N699.5 before closing at N742/$.

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At the parallel market, the price move upwards from N815/$ to N825/$. The price at the parralle market has move up by more than N20 in the last one week.