5 October 2017

Nigeria: Naira Depreciates to 360.46/$ in Nafex

The naira, yesterday, depreciated for the first time this week to N360.46 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, rose to N360.46 per dollar, yesterday, from Tuesday's closing market rate which stood at N360.07 per dollar. This translated to 39 kobo appreciation of the Naira. Meanwhile, the volume of dollars traded in the window stood at $257.56 million.

Conversely, the naira, in the parallel market, yesterday, recorded a marginal gain of N1, as Naira appreciated to N363 from N364 per dollar, which was the market closing rate for Tuesday.

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