The Naira yesterday appreciated to N360.19 per dollar in the Investors and Exporters (I&E) window due to a 502 percent rise in the volume of dollars traded.
Naira Data from FMDQ showed that the indicative exchange rate for the window dropped to N360.19 per dollar from N360.77 per dollar on Tuesday translating to 58 kobo appreciation of the Naira. The volume of dollars traded on the window rose by 502 percent to $552.13million from $91.66 million traded on Tuesday.
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 (ABCON), the parallel market exchange rose to N358.5 per dollar from N358 on Tuesday translating to 50 kobo depreciation of the Naira.