The Naira today suffered its biggest depreciation this year in the Investors and Exporter (I&E) window, where the exchange rate rose sharply to N409.67/$ from N404.67/$ on Friday.
This translates to N5 depreciation, the biggest daily depreciation of the naira since January 1st 2021.
This sharp depreciation follows a 64.32% fall in the volume of dollars traded (turnover) in the I & E window to $28.21 million today from $79.07 million on Friday.
But the naira was stable at N473.50/$ in parallel market at close of business today.
Read Also: Forex Alert: Naira appreciates by N1.50 to N473.5/$ in Parallel Market
