The exchange rate between the dollar and naira at the investor and exporter window sold for as high as N840/$1 on June 26th, 2023.
According to Nairametrics, this is the highest rate traded for the dollar on the official market since they started tracking records in 2018 when the window was launched. The last highest intra-day high was N815/$1.
The exchange rate however closed at N768.17/$ at the close of business on Wednesday depreciating from N770.17/$1 recorded a day earlier.
Africa’s largest economy, Nigeria adopted a market-driven exchange rate policy two weeks ago leading to a sharp depreciation of the exchange rate from about N471.67/$1 to an average of N765/$1.
In terms of turnover, the I&E window recorded volumes of $198.13 million on Monday, 26th of June 2023. Total turnover since the revised I&E window was launched is about $1.4 billion.
