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Naira depreciates to N360.09/$, I&E turnover surges by 333%

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By Adaeze Okechukwu
The Naira commenced the week with a 23 kobo appreciation to N360.09 per dollar, as the Investors and Exporters (I&E) window recorded a 332 percent increase in turnover.

Data from the FinFMDQ showed that the indicative exchange rate for the I&E window dropped to N360.09 per dollar, yesterday, from N360.32 per dollar on Friday last week, translating to a 23 kobo gain for the naira.

This appreciation was buoyed  by the 332  percent increase in the volume of dollars traded in the I&E window. The window yesterday recorded turnover of $335.11 million, up  from $77.57million recorded  Friday last week.

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

 

The post Naira depreciates to N360.09/$, I&E turnover surges by 333% appeared first on Vanguard News.

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