16 November 2018

Nigeria: Naira Depreciates to N362.5/$ in Parallel Market

The Naira, yesterday, depreciated to N362.5 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 rose to N362.5 per dollar from N361.5 per dollar on Wednesday, indicating one naira depreciation of the naira.

However, the naira yesterday appreciated to N363.90 per dollar in the Investors and Exporters (I&E) window.

Data from FMDQ showed that the indicative exchange rate for the window dropped to N363.90 per dollar yesterday from N364.24 per dollar on Wednesday, translating to 34 kobo appreciation of the naira.

The volume of dollars (turnover) traded yesterday in the window rose by five percent to $179.10 million from $169.98 million on Wednesday.


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