The embattled Nigeria's currency, naira on Wednesday 23rd August 2017 dropped to #361 per the U.S. dollar in the Investors and Exporters (I&E) window as the volume of dollars traded significantly rose to $146.09 million from $100.29 as at Tuesday August 22, amounting to 46 per cent rise.
Data from the Financial Market Dealers Quote (FMDQ) indicated that the exchange rate for the I&E window, usually addressed as Nigeria Autonomous Foreign Exchange (NAFEX), rose to #361 per US dollar from #359.6 per dollar as at Tuesday August 22.
This signifies depreciation of #1.40 for the naira. However, it's noteworthy that it remained stable in the parallel market at #370.
Rostrum Financial crew gathered that about $411.67 million have thus far been traded in the window within the week.
Scripted by: Rostrum
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