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Naira depreciates to N360.40/$ in I&E

By Babajide Komolafe
The naira Thursday depreciated to N360.4 per dollar in the Investors and Exporters (I&E) window of the foreign exchange market.


Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the window rose to N360.40 per dollar,Thursday, from N360.21 per dollar on Tuesday, indicating a 19 kobo appreciation of naira.

Meanwhile, the volume of dollars traded in the window rose by 2.3 per  to $170.46Thursday from $166.58 million on Tuesday.

The naira also appreciated by N1 in the parallel market as the parallel market exchange rate dropped to N363 per dollar Thursday from N364 per dollar on Wednesday.


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