The Naira Wednesday appreciated for the first time this week by 28 kobo to N360.17 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 I&E fell to N360.17 per dollar, from N360.45 per dollar on Tuesday, indicating a 28 kobo appreciation of the naira. The appreciation was prompted by a marginal increase in the volume of dollars traded in the I&E window.
The turnover in the window rose by $1.07 million to $120.43 million yesterday from $119.36million recorded on Tuesday.
Investigation revealed that naira remained stable at N362 in the parallel market for the fourth consecutive business day.