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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.

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