Naira appreciates to N360.31 at I&E

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Naira appreciates to N360.31 at I&E

By Adaeze Okechukwu
The naira, yesterday, appreciated to N360.31 per dollar in the Investor and Exporter (I&E) window, while the volume of dollars traded dropped by 7 per cent.

Data from the Financial Market Dealers Quote (FMDQ) showed that indicative exchange rate for the I & E window, known as Nigerian Autonomous Foreign Exchange, NAFEX, rose to N360.31 per dollar, yesterday, from N360.93 per dollar on Wednesday, translating to a 62 kobo appreciation of the naira.

Meanwhile, the volume of dollars traded declined by 48 per cent to $171.01 million yesterday from $329.97 million traded on Wednesday.

Vanguard investigation however revealed that naira remained stable at N363 per dollar in the parallel market for the fourth consecutive day.

The post Naira appreciates to N360.31 at I&E appeared first on Vanguard News.


Source: http://www.vanguardngr.com/

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