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INVESTORS AND EXPORTERS WINDOW
The drop is due to pressure on the black market as a result of a scarcity of dollars.
The exchange rate at the I&E window is different from the CBN’s published exchange rate.
The naira was strengthened on Wednesday as it appreciated to N386.94 to a dollar at the Investors and Exporters (I&E) window, after the day’s trading session
The naira made a rebound in the foreign exchange market as it gained against the dollar at the parallel market.
The local currency strengthened by N0.83 against the dollar, when compared to the N386.33 to a dollar that is exchanged on Friday, May 29, 2020.
The exchange at the start of the week was N385.33.
There appears to be no let-off for Nigerian local currency, Naira as the mounting pressure on it continues unabated.