The Naira, yesterday depreciated to N359.5 per dollar in the parallel market for the first time in one month since February 2019.

Naira
Naira

According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators (ABCON), the parallel market exchange rose to N359.5 per dollar from N358.5 on Tuesday, translating to N1.50 kobo depreciation of the naira.

Similarly, the naira yesterday depreciated by 43 kobo in the Investors and Exporters (I&E) window.

Data from FMDQ showed that the indicative exchange rate for the window rose to N360.68 per dollar from N360.25 per dollar on Tuesday, translating to 43 kobo depreciation of the naira.

The volume of dollars traded on the window dropped  by  62 percent to $ 116.29 million from $307.05 million traded on Tuesday.

https://www.vanguardngr.com/2019/03/naira-gains-marginally-against-dollar-at-parallel-market-3/

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