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.
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Traders attributed the naira depression to increased demand for dollars, mostly from individuals who want to travel for education, tourism or for business.
