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Naira depreciates to N360.2/$ in NAFEX

By Babajide Komolafe
THE naira, yesterday, depreciated further to N360.2 per dollar in the Investors and Exporters (I&E) window.

liquidity

Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the I&E window, known as Nigeria Autonomous Foreign Exchange (NAFEX) rose to N360.2 per dollar, yesterday, from N359.4 per dollar on Monday. Hence the naira has depreciated by N1.7 this week in the I&E window.

The naira, however, remained stable at N367 per dollar in the parallel market, yesterday.

On the other hand, the volume of dollars traded in the I&E window rose by 40 per cent to $154 million, yesterday, from $110.25 million on Monday.


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