Naira depreciates to N360.36/$ in I&E window

In spite of the 407 percent rise in the volume of dollars traded, the Naira, yesterday, depreciated to N360.36 per dollar in the Investors and Exporters (I&E) window.

Data from FMDQ showed that the indicative exchange rate for the window rose to N360.29 per dollar from N360.44 per dollar on Wednesday translating to seven kobo depreciation of the naira.

The volume of dollars traded on the window rose by 407 percent to $308.66 million from $60.94 million traded on Wednesday.
However, the naira yesterday was stable at N358 per dollar in the parallel market.

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