Naira depreciates to 360.45/$, I&E turnover surges by 236%

The naira yesterday depreciated by 30 kobo to N360.45 per dollar, in the Investors and Exporters (I&E) window, even 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. The window recorded turnover recorded of $572.1 million, an upsurge from $170.21 million on Wednesday.

Read more at source:

https://www.vanguardngr.com/2018/04/naira-depreciates-360-45-ie-turnover-surges-236/