Naira appreciates further to N360.25/$ in I&E
The naira Tuesday appreciated further 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&E dropped further to N360.25 per dollar, yesterday, from N360.28 per dollar on Monday, translating to a 3 kobo appreciation of the naira.
The appreciation was prompted by a 23 percent increase in the volume of dollars traded in the I&E window.
The window recorded a turnover of $223.38 million yesterday, indicating a $42.28 million increase from $181.01million recorded on Monday.
The naira also appreciated by N1 to N362 per dollar yesterday from N363 per dollar on Monday in the parallel market.
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 dropped further to N360.25 per dollar, yesterday, from N360.28 per dollar on Monday, translating to a 3 kobo appreciation of the naira.
The appreciation was prompted by a 23 percent increase in the volume of dollars traded in the I&E window.
The window recorded a turnover of $223.38 million yesterday, indicating a $42.28 million increase from $181.01million recorded on Monday.
The naira also appreciated by N1 to N362 per dollar yesterday from N363 per dollar on Monday in the parallel market.
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