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Naira appreciates to N360.00/$ in I&E

By Adaeze Okechukwu
The naira Wednesday appreciated to N360.00 per dollar in the Investors and Exporters (I&E) window of the foreign exchange market.

Naira
Naira

Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the window dropped  to N360 per dollar, yesterday, from N360.39 per dollar on Tuesday, indicating a 39 kobo depreciation of naira

Meanwhile, the volume of dollars traded in the window increased by 157 percent to $321.21 million Wednesday from $125.08 million on Tuesday, prompting the appreciation of the naira.

Vanguard investigation revealed that naira  remained stable at  N364 per dollar in the parallel market for the fifth consecutive business day.

 


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