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Naira appreciates to N360.26/$ in I&E

By Adaeze Okechukwu
The naira Thursday depreciated to N360.26 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 rose to N360.26 per dollar, from N360.17 per dollar on Wednesday, indicating a nine (9) kobo depreciation of the naira.

The depreciation was prompted by 29 percent in the volume of dollars traded in the I&E window. The turnover in the window fell to $85.52 million from $120.43 million on Wednesday.

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

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