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Naira Depreciates In NAFEX

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The naira, yesterday, depreciated for the first time this week to N360.46 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, rose to N360.46 per dollar, yesterday, from Tuesdayā€™s closing market rate which stood at N360.07 per dollar. This translated to 39 kobo appreciation of the Naira. Meanwhile, the volume of dollars traded in the window stood at $257.56 million.

Conversely, the naira, in the parallel market, yesterday, recorded a marginal gain of N1, as Naira appreciated to N363 from N364 per dollar, which was the market closing rate for Tuesday

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