Naira appreciates further to N360.25/$

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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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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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