The naira Wednesday depreciated to N360.27 per dollar in the Investor and Exporter (I&E) Foreign Exchange Window.
Data from the Financial Market Dealers Quote, FMDQ, showed that the indicative exchange rate for the I & E Window, known as Nigerian Autonomous Foreign Exchange, NAFEX, declined to N360.27 per dollar, yesterday, from Tuesday’s closing rate which stood at N359.83 per dollar, thus, indicating a 44 kobo depreciation of the Naira.
Meanwhile, the volume of dollars traded in the window, yesterday, increased by 22 per cent to $328.01 million from $268.18 million traded the preceding day. In the parallel market, the naira, however, stabilised at N364 per dollar for the third consecutive day this week.
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