By Adaeze Okechukwu
The Naira, yesterday, recorded the highest daily depreciation this week of 51 kobo to N360.51 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&E window rose to N360.51 per dollar yesterday, from N360 per dollar on Tuesday, indicating 51 kobo loss in the naira.
The depreciation was occasioned a 56 percent decline in volume of dollars traded the I&E window yesterday. The transactions in the window stood at $ 93.80 million, down from $212.83 million recorded on Tuesday.
Meanwhile, naira remained stable at N363 per dollar yesterday for the tenth consecutive business day in the parallel market.