Naira appreciates to 360. 52/$ in NAFEX

By Adaeze Okechukwu

The naira, yesterday, appreciated to N360.52 per dollar in the Investors and Exporters (I&E) Foreign Exchange, forex, 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 360.52 per dollar, yesterday, from Wednesday’s  rate   which  stood  at N360.71 per dollar.

This indicates a 19 kobo appreciation of the Naira. Meanwhile, the volume of dollars traded in the I & E forex window, yesterday, jumped up to $341 million from $240 million exchanged on Wednesday, representing a 41.9 per cent increase. Also in the parallel market, the naira had remained stable at N363 per dollar for one week.


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