The exchange rate between the naira and the dollar fell to as low as N788/.42/$1 on the I&E window at trading Tuesday, July 11, 2023.

This represents a 5.96% depreciation from the previous day’s close of N744/$1.

This is also the lowest the naira has fallen against the dollar on the official I&E window since its inception in 2017. and lowest since the window was revised on June 14, 2023.

Before now, the lowest was N770.38/$1 on the 19th of June 2023 just three days after the new window came into operation.

The exchange rate has traded at an average of about N746/$1 for the last 14 trading days.