Naira now N360.02/$ at NAFEX

The Naira, Wednesday, appreciated by 35 kobo to N360.02 per dollar in the Investor and Exporter (I&E) window prompted by 10 percent increase in the amount of dollars traded in the window. 

Datafrom the Financial Market Dealers Quote (FMDQ) showed that indicative exchange rate for the I & E window, known as Nigerian Autonomous Foreign Exchange, NAFEX, dropped to N360.02 per dollar, yesterday, from N360.37 per dollar on Tuesday. FMDQ also reported that the amount of dollars traded rose by 10 percent to $218.66 million yesterday from $198.71 million on Tuesday. 

Meanwhile, the Naira, stabilised at N364 per dollar for the sixth consecutive business day in the parallel market, yesterday. 

(Vanguard)