NEWS : Naira depreciates to $360.65/$ in NAFE

The Naira, Wednesday, depreciated for the first time this week to N360.65 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, fell by 23 kobo to N360.65 per dollar, yesterday, from N360.43 per dollar on Tuesday.

Meanwhile, the volume of dollars traded in the window, yesterday, rose by 198 per cent to $234.23 million from $78.48 million recorded the preceding day. Vanguard survey further revealed that the naira closed at N364 per dollar in the parallel market.

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