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Naira Appreciates Marginally To N360.42/$ In I&E Window: Business : - Nigeria's Premier Online Forum (56 views)

Naira Appreciates Marginally To N360.42/$ In I&E Window

By Adenosine (M)April 28, 2018, 11:18:59 PM
The Naira Thursday appreciated marginally by 9 kobo  to N360.42 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  window dropped to N360.42 per dollar yesterday, from N360.51 per dollar on Wednesday, translating to a 9 kobo appreciation of the Naira against the dollar.

The appreciation was occasioned by a 259 percent increase in the volume of dollars traded  the I&E window yesterday. The transactions in the window stood at  $336.65 million, up from  $93.80 million recorded on Wednesday.

Meanwhile, naira remained stable at N363 per dollar yesterday for the eleventh consecutive business day in the parallel market.

Source Vanguard

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