The naira, yesterday, posted its biggest daily appreciation of ₦5.45 in the Investors and Exporters (I&E) window, while the volume of dollars traded rose to $166.66 million.
Data from Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the I&E window, known as Nigeria Autonomous Foreign Exchange (NAFEX) dropped to ₦355.55 per dollar yesterday from ₦361 per dollar on Wednesday.
This translated to ₦5.45 appreciation for the naira, the biggest daily appreciation since June. The naira however remained stable at ₦370 per dollar in the parallel market.
Vanguard analysis also reveals that the volume of dollars traded in the I&E window rose by 14 per cent to ₦166.66 million from $146.09 million on Wednesday.
Thursday $578.33 million has been traded in the window this week.