Naira started the week on a bearish note, with a 0.67% depreciation.
The naira on Monday, 8th August 2022 depreciated against the dollar at the Investors and Exporters (I&E) window.
According to Nairametrics, the naira closed at N431/$1.
Naira started the week on a bearish note, with a 0.67% depreciation to close at N431/$1 compared to N428.12/$1 recorded in the previous trading session. This is despite a 60.83% increase in the amount of forex trading in the market at $115.67 million.
In the same vein, at the peer-to-peer market, the naira fell to N670.4/$1 on Tuesday morning from N662.4/$1 recorded as of the same time on Monday, representing a 1.21% decline compared to the previous day.
This is happening even after the EFCC resorted to threatening to arrest dollar hoarders and raided Bureau de Change Operators in Abuja.