Naira Gains 23 kobo As I&E Turnover Surges By 333%

Naira Notes

 

The Naira opened the week with a 23 kobo appreciation to close at N360.09 to the dollar on Monday, as the Investors and Exporters (I&E) window recorded a 332 percent increase in turnover.

Data from the FinFMDQ showed that the indicative exchange rate for the I&E window dropped to N360.09 per dollar, from N360.32 per dollar on Friday last week, translating to a 23 kobo gain for the naira.

This appreciation was buoyed  by the 332  percent increase in the volume of dollars traded in the I&E window. The window on Monday recorded turnover of $335.11 million, up  from $77.57 million recorded  Friday last week.

The naira Monday remained stable at N363 to the dollar for the third consecutive day in the parallel market. 

Section: