Breaking News
Translate

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.


Disclaimer

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