Naira rises to N361.85/USD in I&E window

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Naira rises to N361.85/$ in I&E window

The Naira yesterday appreciated to N361.85 per dollar in the Investors and Exporters (I&E) window due to an 80 percent increase in the volume of dollars traded.

Data from FMDQ showed that the indicative exchange rate for the window dropped to N361.85 per dollar from N362.03 per dollar on Wednesday translating to 18 kobo appreciation of the naira.

The volume of dollars traded on the window rose by 58 percent to $355.90 million from $224.84million on Wednesday.

However, the naira, yesterday, depreciated to N359.5 per dollar in the parallel market after eight consecutive working days of being stable at N358 per dollar.

According to  naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators of Nigeria (ABCON), the parallel market exchange rose to N359.5 per dollar from N358 per dollar on Wednesday, indicating N1.50 kobo depreciation of the naira.