Naira depreciates to N360.39/$ in I&E

The naira yesterday depreciated to N360.39 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 window rose to N360.39 per dollar, yesterday, from N360.37 per dollar on Monday, indicating a 2 kobo depreciation of naira Furthermore, the volume of dollars fell by 81 percent to $125.08 million yesterday $655.72 million on Monday. Vanguard Investigation revealed that naira  remained stable at  N364 per dollar  in the parallel market for the fourth consecutive business day.