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Naira appreciates to N360.6/$ in I&E

The naira Thursday appreciated further by 10 kobo to N360.6 per dollar in the Investors and Exporters (I&E) window, buoyed by 76 percent increase in volume of dollars traded.

Data from the Financial Market Dealers Quote (FMDQ) revealed that the indicative exchange rate for the window dropped to N360.6 per dollar yesterday from N361.70 per dollar on Wednesday.

Further analysis revealed that the volume of dollars traded in the window rose sharply by 76 percent to $131.01 million from $74.38 million last week.
The naira however remained stable at N364 per dollar in the parallel market.

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