By Peter Egwuatu
The naira, Tuesday, depreciated further to N360. 39 per dollar in the Investor and Exporter (I&E) Foreign Exchange Window.

Data from the Financial Market Dealers Quote, FMDQ, showed that the indicative exchange rate for the I & E Window, known as Nigerian Autonomous Foreign Exchange, NAFEX, declined to N360.39 per dollar, Tuesday, from Monday’s  closing rate which stood at N360.013  per dollar, thus, indicating a 26 kobo depreciation of the Naira.

Meanwhile, the volume of dollars traded in the window, Tuesday, remained unchanged at $146.06 million from the Monday’s transactions. The parallel market rate, yesterday, still stabilised at N363 per dollar.

In another development, Nigerian overnight lending rates were quoted around 120 per cent on Tuesday after a court ordered a freeze on millions of bank accounts with incomplete identity documents and the central bank sold treasury securities to tighten liquidity, traders said.