The Naira commenced the week with 12 kobo depreciation to N360.54 per dollar in the Investors and Exporters (I&E) window of the foreign exchange market.
Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the I&E window rose to N360.54 per dollar, yesterday, from N360.42 per dollar on Friday last week, translating to 12 kobo loss in the value of naira.
The depreciation was occasioned by a 3 percent marginal decrease in the volume of dollars traded in the I&E window.
The window yesterday had a turnover of $217.57 million, down from $223.78 million recorded on Friday last week.
Naira, as at yesterday remained stable at N363 per dollar for the seventh consecutive day in the parallel market.