Naira appreciates to N360.21/$ in I&E

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By Adaeze Okechukwu
The Naira Wednesday appreciated to N360.21 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 window dropped to N360.21 per dollar, yesterday, from N360.31 per dollar on Tuesday, indicating a 10 kobo depreciation of naira.

Meanwhile, the volume of dollars traded in the window fell by 22 percent to $166.58 million Wednesday from $212.31million on Tuesday, prompting the appreciation of the naira.

Vanguard investigation revealed that Naira remained stable at N364 per dollar in the parallel market for the fourth consecutive business day.

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