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Exchange Rate: Naira Falls Against The Dollar

The Naira, Thursday, fell by 30 kobo to close at N360.45 per dollar, in the Investors and Exporters (I&E) window. This is just as the window recorded 236 percent upsurge in its turnover.

Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the I&E window rose to N360.45 per dollar yesterday, from N360.15 per dollar on Wednesday, translating to a 30 kobo loss in the value of naira.

This depreciation was in spite of the 236 percent increase in the volume of dollars traded in the I&E window yesterday.

Report says the window recorded turnover of $572.1 million, an upsurge from $170.21 million on Wednesday.

 

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