Naira up N364.57 per dollar on Investors and Exporters window

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The Naira, yesterday, appreciated to N364.57 per dollar in the Investors and Exporters (I&E) window due to a 21 percent rise in the volume of dollars traded.

Data from FMDQ showed that the indicative exchange rate for the window dropped to N364.57 per dollar yesterday from N364.93 per dollar on Wednesday, translating to 36 kobo appreciation of the naira.

The volume of dollars traded on the window rose by 21 percent to $319.96 million from $264.46 million traded on Wednesday.

However, the naira yesterday rose 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 rose to N363 per dollar from N362.5 per dollar on Wednesday, indicating 50 kobo depreciation of the naira.

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