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Naira appreciates to 360.20/$ in I&E

By Adaeze Okechukwu
The Naira, yesterday, appreciated for the first this week by 80 kobo to N360.20 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  I&E  window  dropped to N360.20    per dollar yesterday, from N361 per dollar on Wednesday, indicating an 80 kobo appreciation in the naira.

This appreciation was in spite of the 30 percent decrease in the volume of dollars traded in the I&E window yesterday. The turnover recorded in the window stood at $270.04 million, down from $387.79 million recorded Wednesday.

Vanguard investigation revealed that naira remained stable at N362 per dollar yesterday for the eight consecutive business day in the parallel market.


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