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Naira appreciates to N358 in parallel market

By Babajide Komolafe

The Naira yesterday appreciated to 361.72 per dollar in the Investors and Exporters (I&E) window.

Naira-Dollar
Naira-Dollar

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Data from FMDQ showed that the indicative exchange rate for the window dropped to N361.72 per dollar yesterday from N362.58 per dollar on Tuesday translating to 86 kobo appreciation of the naira.

The appreciation was in spite 21 percent decline in volume of dollars traded which fell to $348.48 million yesterday from $441.38 million on Tuesday.

The naira however remained stable at N358 per dollar in the parallel market.

 

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