THE naira yesterday appreciated to N360.15 per dollar, in the Investors and Exporters (I&E) window of the foreign exchange market. Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the I&E window dropped to N360.15 per dollar yesterday, from N360.21 per dollar last week Thursday, indicating 6 kobo appreciation for naira.
The appreciation was in spite of 40 percent decline in the volume of dollars traded in the I&E window yesterday. The transactions in the window stood at $170.21 million, down from $283.04 million, recorded on Tuesday. Meanwhile, naira remained stable at N362 per dollar yesterday for the ninth consecutive business day in the parallel market.