Naira appreciates to N362.33/$ in I&E window

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The Naira, yesterday, appreciated to N362.33 in the Investors and Exporters (I&E) window in spite of 52 percent decline in the volume of dollars traded.

Data from FMDQ showed that the indicative exchange rate for the window dropped marginally to N362.33 per dollar yesterday from N362.40 per dollar on Tuesday, indicating 7 kobo appreciation of the naira.

The volume of dollars traded in the window yesterday however dropped by 53 percent to $90.14 million from $190.68 million traded on Tuesday. However, the naira remained stable at N358.3 per dollar in the parallel market.

Ime N