By Adaeze Okechukwu
The Naira commenced the week with a 10 kobo depreciation to N360.51 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 rose to N360.51per dollar, yesterday, from N360.41per dollar on Friday last week, translating to a 10 kobo loss in the naira.

This depreciation was in spite of  the 112 per cent increase  in the volume of dollars traded in the I&E window. The window yesterday recorded turnover of$362.52 million, up from $170.61 million recorded Friday last week.

Vanguard investigation revealed that naira, yesterday, appreciated by N1 to N362 per dollar, after two weeks of relative stability at N363 per dollar in the parallel market.