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Naira appreciates further to N360.25/$

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By Adaeze Okechukwu
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.

The post Naira appreciates further to N360.25/$ appeared first on Vanguard News.

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