Naira appreciates to N360.7/$ in I&E

By Babajide Komolafe
The naira, Wednesday, appreciated to N360.7 per The naira yesterday appreciated to N360.7 per dollar in the Investors and Exporters (I&E) window, in spite 36 percent decline in volume of dollars traded.

Data from the Financial Market Dealers Quote (FMDQ) revealed that the indicative exchange rate for the window dropped to N360.7 per dollar yesterday from N361.11 per dollar yesterday last week Friday.

Further analysis revealed that the volume of dollars traded in the window dropped to $74.38 million from $116.3 million last week.

The improved fortune of the naira was extended to the parallel market, were it appreciated by N1 as the parallel market exchange rate dropped to N364 per dollar from N365 per dollar last week

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