Naira appreciates to ₦364.93 /$ in I&E window

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The Naira, yesterday, appreciated to ₦364.93 per dollar in the Investors and Exporters (I&E) window due to a 58 percent rise in the volume of dollars traded.

Data from FMDQ showed that the indicative exchange rate for the window dropped to ₦364.93 per dollar yesterday from ₦364.96 per dollar on Tuesday, translating to three kobo appreciation of the naira.

The volume of dollars traded on the window rose by 58 percent to $264.46 million from $167.00 million traded on Tuesday.

However, the naira yesterday was stable at ₦362.5 in the parallel market.