Yesterday, Tuesday, the depreciated to N363.88 per dollar in the Investors and Exporters (I&E) window, and the volume of dollars traded on the window dropped by eight percent.
The difference was not very much, but any change proves to be significant. The data from FMDQ showed that the indicative exchange rate for the window rose to N363.88 per dollar yesterday from N363.74 per dollar last week Thursday. The quantitative difference is 14 kobo depreciation of the naira.
The volume of dollars (turnover) traded on the window yesterday rose by eight percent to $313.30 million from $289.73 million last week Thursday. However, the Naira yesterday appreciated by 50 kobo in the parallel market.
According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators of Nigeria (ABCON), the exchange dropped to N359 per dollar from N359.5 per dollar last week Thursday, indicating 50 kobo appreciation of the Naira.