The Central Bank of Nigeria (CBN) supplied a total of $29.5 million at Thursday’s FX auction as nine banks bid N765 and N775 at the I&E window.
But the currency depreciated by 0.25 percent on Thursday at the Investors and Exporters (I&E) forex window as the dollar was quoted at N765.13 as against N763.17 quoted on Wednesday, data from the FMDQ indicated.
Read also: Together build a more responsive, just and inclusive global financial system
Traders attributed the naira depression to increased demand for dollars, mostly from individuals who want to travel for education, tourism or for business.
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