Economy
Naira appreciates to N386.94 /$ in I&E window
The Naira, yesterday, appreciated to N386.94 per dollar in the Investors and Exporters (I&E) window. Data from FMDQ showed that the indicative exchange rate for the window dropped to N386.94 per dollar yesterday from N387.25 per dollar last week on Friday , translating to 31 kobo appreciation of the naira.
However, the volume of dollars (turnover) traded in the window yesterday dropped by 86 percent to $9.98 million from $70.40 million last week Friday.
Meanwhile, the naira yesterday depreciated by four naira in the parallel market.
According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators of Nigeria (ABCON), the parallel market exchange rate rose to N444 per dollar from N440 per dollar last week Friday, indicating N4 depreciation of the naira.
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