Naira depreciates to 360.46/$ in NAFEX

By Adaeze Okechukwu

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 Tuesday’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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