Naira Depreciates to N777.82 Against Dollar

Friday, the Nigerian naira experienced a depreciation against the dollar, exchanging at N777.82 at the Investors and Exporters window. This represents a 1.26 per cent decline compared to the previous day's rate of N768.16. The open indicative rate closed at N779.58 to the dollar on Friday.

During the day's trading, the spot exchange rate reached as high as N844 to the dollar before settling at N777.82. However, the naira was sold for as low as N700 to the dollar within the same trading period.

At the Investors and Exporters window, a total of $77.99 million was traded on Friday. The continuous fluctuations in the exchange rate highlight the challenges faced by the Nigerian currency in the foreign exchange market.

(NAN)