By Babajide Komolafe
The naira yesterday depreciated by 50 kobo to N361.5 per dollar in the parallel market even as volume of dollars traded in the Investors and Exporters (I&E) window rose by 23 percent.

According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators (ABCON), the parallel market exchange rate rose to  N361.5  per dollar yesterday from N361 per dollar on  Wednesday,  indicating 50 kobo depreciation for  the Naira.

The Naira however was relatively stable in the I&E window as the indicative exchange rate dropped by one kobo to N360.94 per dollar yesterday from N360.95 per dollar on Wednesday.

The relative stability of the Naira in the I&E window was enhance by increase in volume of dollars traded (turnover) which rose by 23 percent yesterday to $238.90 million from $195.37 million on Wednesday.