February 12, 2019

Naira stable at N358/$ in parallel market

naira notes


By Elizabeth Adegbesan

The Naira yesterday was stable at N358 per dollar in the parallel.



Political hiccups deflate stock market

However, the naira depreciated by 41kobo in the Investors and Exporters (I&E) window.

Data from FMDQ showed that the indicative exchange rate for the window rose to N361.95 per dollar from N361.54 per dollar last week Friday translating to 41 kobo depreciation of the naira.

The depreciation was due to a 65 percent decline in volume of dollars traded which fell to $113.86 million from $328.4 million last week Friday.