Naira Drops Down to N360.54/$ in I&E

The naira Thursday devalued to N360.54 per dollar in the Investors and Exporters (I&E) window. Information from the Financial Market Dealers Quote (FMDQ) demonstrated that the characteristic swapping scale for the window, known as Nigerian Autonomous Foreign Exchange, NAFEX, rose to N360.54 per dollar yesterday from N360.25 per dollar, on Wednesday, meaning a 29 kobo misfortune in the estimation of naira. In the interim the volume of dollars exchanged rose by 11 percent to $342.17 million percent yesterday to from$306.70 million on Wednesday. The naira however stabilizedat N364 per dollar in the parallel market.

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