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Naira appreciates to N360.41 in I&E

By Babajide Komolafe
The naira Wednesday depreciated by four kobo to N360.41 per dollar in the Investor and Exporter (I&E) window, while the volume of dollars traded fell sharply by 80 percent.

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, rose to N360.41 per dollar, today, from N360.37 per dollar on Tuesday.

On the other hand, the volume of dollars traded fell sharply by 80 percent to $59.6 million from N301.21 million on Tuesday.

The naira however remained stable at N363 per dollar in the parallel market for the eight consecutive business day.

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