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Naira appreciates to N360.06/$ at I&E

By Adaeze Okechukwu
The naira Thursday appreciated for the third time this week to N360.06 per dollar,even as the volume of dollars traded in the Investors and Exporters (I&E) window rose by 121 percent.

Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the I&E dropped further to N360.06 per dollar, yesterday, from N360.25 per dollar on Wednesday, translating to a 19 kobo appreciation for the naira.

The appreciation was triggered by the 121 percent upsurge in the volume of transactions recorded in the I&E window. The window traded $282.97 million yesterday, $154.91 million increase from $128.06 million traded on Wednesday.

Meanwhile, naira remained stable at N363 per dollar yesterday in the parallel market.


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