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Naira depreciates to N368.17/$ in NAFEX

By Babajide Komolafe
The naira, yesterday, depreciated to N368.17 per dollar in the Investors and Exporters (I&E) window.

Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the window, known as Nigeria Autonomous Foreign Exchange (NAFEX) rose from N367.38 per dollar on Monday to N368.17 per dollar, yesterday. This translated to 79 kobo depreciation for the naira. Hence the naira has depreciated by N1.73 against the dollar in the I&E window this week.

However, the naira remained stable at N366 per dollar in the parallel market, yesterday.


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