The naira takes a hit as the financial markets kick off the week

The Nigerian naira depreciated against the US dollar on Monday, exchanging at N747.87 at the Investors and Exporters window.

This represents a 1.01% drop compared to the N740.38 exchange rate on September 1st. The open indicative rate closed at N772.06 to the dollar.

The highest rate recorded during the day’s trading was N799.90 before settling at N747.87. A total of $74.64 million was traded at the investors and exporters window on Monday.

Edited By Damilola Adeleke