Naira depreciates to N363.04/$ in I&E window


The Naira, yesterday, depreciated to N363.04 per dollar in the Investors and Exporters (I&E) window even as the volume of dollars traded increased marginally to $408.08 million.

Data from FMDQ showed that the indicative exchange rate for the window rose to N363.04 per dollar yesterday from N362.11 per dollar on Tuesday, indicating 93 kobo depreciation of the naira.

The volume of dollars traded on the window yesterday rose by 123 percent to $408.08 from $183.11 million traded on Tuesday. However, the Naira yesterday remained stable at N359 per dollar in the parallel market.

Ime N