Naira drops against dollar, exchanges at N778.42

The naira depreciated against the dollar on Friday, August 25, 2023, as it exchanged at N778.42 at the investors and exporters window.

The naira lost by 0.87 per cent compared to the N771.69 it exchanged for the dollar on Thursday.

The open indicative rate closed at N773.29 to the dollar on Friday.

A spot exchange rate of N799.90 to the dollar was the highest rate recorded within the day’s trading before it settled at N778.42.

The naira sold for as low as N700 to the dollar within the day’s trading.

A total of $73.80 million was traded at the investors and exporters window on Friday.

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