Naira depreciates to N360.5 in I&E

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The naira, Monday, depreciated by nine kobo to N360.5 per dollar in the Investor and Exporter (I&E) window.


Data from the Financial Market Dealers Quote (FMDQ) showed that indicative exchange rate for the I & E window, known as Nigerian Autonomous Foreign Exchange, NAFEX, rose to N360.50 per dollar,Monday, from N360.41 per dollar last week.

Meanwhile, the volume of dollars traded fell by 54 percent to $96.77 million yesterday to $209.05 million Friday last week.

The naira however remained stable at N363 per dollar in the parallel market for the sixth consecutive business day.



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