Naira depreciates to 360.56/$ in I&E


By Adaeze Okechukwu
The naira Wednesday depreciated to N360.56 per dollar in the Investor and Exporter window, in spite of 98 per cent increase the volume of dollars traded.


Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the window rose to N360.56 per dollar, yesterday, from N360.43 per dollar on Tuesday, indicating a 13 kobo depreciation of naira.

Meanwhile, the volume of dollars traded in the widow rose by 98 percent to $380.56 million from $191.59 million traded on Tuesday. Vanguard investigation however revealed that naira remained stable at N364 in the parallel market.

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