By Elizabeth Adegbesan
The Naira, yesterday, depreciated to N363.88 per dollar in the Investors and Exporters (I&E) window even as the volume of dollars traded on the window dropped by eight percent.
Data from FMDQ showed that the indicative exchange rate for the window rose to N363.88 per dollar yesterday from N363.74 per dollar last week Thursday, indicating 14 kobo depreciation of the naira.
The volume of dollars (turnover) traded on the window yesterday rose by eight percent to $313.30 million from $289.73 million last week Thursday. However, the Naira yesterday appreciated by 50 kobo 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 dropped to N359 per dollar from N359.5 per dollar last week Thursday, indicating 50 kobo appreciation of the Naira.