The naira depreciated against the dollar on Wednesday as it exchanged at N773.42 at the Investors and Exporters window amid rise in food price.
It lost by 0.35 per cent compared with N770.72 for which it exchanged for the dollar on Tuesday.
The open indicative rate closed at N781.49 to the dollar on Wednesday.
A spot exchange rate of N799.90 to the dollar was the highest rate recorded within the day’s trading before it settled at N773.42.
The naira sold for as low as N738 to the dollar within the day’s trading.
A total of 169.07 million dollar was traded at the investors and exporters window on Wednesday.
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