By Adaeze Okechukwu
The Naira Thursday appreciated marginally by 9 kobo to N360.42 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 window dropped to N360.42 per dollar yesterday, from N360.51 per dollar on Wednesday, translating to a 9 kobo appreciation of the Naira against the dollar.
The appreciation was occasioned by a 259 percent increase in the volume of dollars traded the I&E window yesterday. The transactions in the window stood at $336.65 million, up from $93.80 million recorded on Wednesday.
Meanwhile, naira remained stable at N363 per dollar yesterday for the eleventh consecutive business day in the parallel market.