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Naira depreciates to N360.57/$ in I&E

By Adaeze Okechukwu
The naira Thursday depreciated to N360.57 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 N360.57 per dollar, yesterday, from N360 per dollar on Wednesday, indicating a 57 kobo depreciation of naira

Meanwhile, the volume of dollars traded in the window dropped by 13 percent to $279.07 million from $321.21 million on Wednesday.

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


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