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, on Monday, April 23, 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.
It was gathered that local currency yesterday remained stable at N363 per dollar for the seventh consecutive day in the parallel market.
It was also learnt that the local currency maintained the same rate of N445 to Euro but appreciated against Pound.
Last week, the Central Bank of Nigeria (CBN), in its relentless move to guarantee liquidity in the foreign exchange market, intervened in the Retail Secondary Market Intervention Sales (SMIS) segment of the market to the tune of $396.18million.
Meanwhile, the World Bank has in a recent data it provided said that over 118 million Nigerian adults do not have bank accounts.
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