Breaking News

Naira appreciates further to N360.30/$ in I&E

By Adaeze Okechukwu
The Naira, yesterday, appreciated further by 15 kobo to N360.30 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 as known as Nigerian Autonomous Foreign Exchange, NAFEX, dropped to N360.30 per dollar, yesterday, from N360.45 per dollar on Monday, indicating a 15 kobo increase in the value of naira. Recall that Naira also appreciated by 12 kobo on Monday from $360.57 per dollar Friday last week.

The strengthening of the Naira was in spite of the $2.29 million decline in the volume of dollars traded in window. The window recorded a turnover of $166.22 million yesterday, down from $168.51 million traded on Monday.

Vanguard investigation revealed that naira remained stable at  N362 yesterday in the parallel market.



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