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Naira down to N360.51/$ in I&E window

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By Adaeze Okechukwu
T
he 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.

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