The Naira, yesterday, appreciated to ₦362.08 in the Investors and Exporters (I&E) window despite the 49 percent decline in volume of dollars traded.
Data from FMDQ showed that the indicative exchange rate for the window dropped to ₦362.08 per dollar yesterday from ₦362.30 per dollar on Tuesday, indicating 22 kobo appreciation of the naira.
The volume of dollars traded in the window yesterday, however, declined by 49 percent to $146.85 million from $288.21 million on Tuesday.
On the other hand, the naira yesterday depreciated by 10 kobo to ₦358.4 per dollar in the parallel market.
According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators (ABCON), the parallel market exchange rose to ₦358.4 per dollar from ₦358.3 on Tuesday, translating to 10 kobo depreciation of the naira.