Naira appreciates further to N360.25/$


The Naira, Wednesday, appreciated further marginallyby 2 kobo to N360.25 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&Ealso known as Nigerian Autonomous Foreign Exchange, NAFEX, dropped further to N360.25 per dollar, yesterday, from N360.28 per dollar on Tuesday, indicating 2 koboappreciation in the naira.

However, the volume of dollars traded in the window further declined by 60 percent to $128.06 million yesterday from $322.83 million on Tuesday.

Meanwhile, naira depreciated by N1 to N363 per dollar yesterday from N362 per dollar recorded on Tuesday in the parallel market.


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