Naira up at N361.5 in parallel market

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The Naira yesterday appreciated to N361.5 per dollar in the 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 N361.5 per dollar from N362 per dollar last week Friday, indicating 50 kobo appreciation of the naira.

On the other hand, the naira, yesterday, depreciated by 29 kobo in the Investors and Exporters (I&E) window due to a 67 percent drop in the volume of dollars traded.

Data from FMDQ showed that the indicative exchange rate for the window rose to N362.75 per dollar yesterday from N362.46 per dollar last week Friday, translating to 29 kobo depreciation of the naira.

The volume of dollars (turnover) traded yesterday declined by 67 percent to $93.84 million from $283.36 million traded last week Friday.

Source: VANGUARD

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