Breaking News
Translate

Naira appreciates to N360.17/$ in I&E

By Adaeze Okechukwu
The Naira Wednesday appreciated for the first time this week by 28 kobo to N360.17 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 fell to N360.17 per dollar, from N360.45 per dollar on Tuesday, indicating a 28 kobo appreciation of the naira.

The appreciation was prompted by a marginal increase in the volume of dollars traded in the I&E window. The turnover in the window rose by $1.07 million to $120.43 million yesterday from $119.36million recorded on Tuesday.

Vanguard investigation revealed that naira remained stable at N362 in the parallel market for the fourth consecutive business day.


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.