Naira appreciates to N360/$1

Naira appreciates to N360/$1

Naira appreciates to N360/$1

The naira, Tuesday, appreciated to N360.31 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, dropped to 360.31 per dollar, Tuesday, from Monday’s closing market rate which stood at N360.50 per dollar. 

This translated to a 19 kobo appreciation of the Naira. Meanwhile, the volume of dollars traded in the window remained unchanged at $86.69 million.

The naira, however, in the parallel market, yesterday, remained unchanged at N363.00 per dollar for the fourth consecutive business day since Thursday last week.