Naira appreciates to N363.85/$ in I & E window
The Naira, yesterday, appreciated to N363.85 in the Investors and Exporters (I&E) window despite a 41 percent decline in the volume of dollars traded.
Data from FMDQ showed that the indicative exchange rate for the window dropped to N363.85 per dollar yesterday from N364.7 per dollar last week Friday, translating to 85 kobo appreciation of the naira.
The volume of dollars (turnover) traded yesterday in the window drop by 41 percent to $147.30 million from $249.28 million last week Friday.
However, the naira yesterday depreciated by 50 kobo in the parallel market.
According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators of Nigeria (ABCON), the parallel market exchange dropped to N363 per dollar from N362.5 per dollar last week Friday, indicating 50 kobo depreciation of the naira.