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Naira down to N360.3/$ in parallel market

By Elizabeth Adegbesan
The
naira, yesterday depreciated to N360.3 per dollar in the parallel market.

According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators of Nigeria (ABCON), the parallel market exchange rose to N360.3 per dollar from N359.8 per dollar on Wednesday, indicating 50 kobo depreciation of the naira.

Meanwhile, the naira yesterday appreciated to N364.02 per dollar in the Investors and Exporters (I&E) window even as the volume of dollars traded declined by 52 percent.

 

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Data from FMDQ showed that the indicative exchange rate for the window dropped slightly to N364.04 per dollar yesterday from N364.27 per dollar on Wednesday, translating to23 kobo appreciation of the naira.

The volume of dollars (turnover) traded in the window yesterday dropped by 52  percent to $135.47 million from $285.05 million traded on Wednesday.

 

 


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