Naira falls to N359.3/$ in parallel market

Nigerian Naira, yesterday, decreased to N359.3 per dollar in the parallel market., says the live exchange rate platform of the Association of Bureaux De Change Operators of Nigeria (ABCON), the parallel market exchange increased to N359.3 per dollar from N359 per dollar on Tuesday, indicating 30 kobo depreciation of the naira. Similarly, the naira yesterday depreciated by three kobos in the Investors and Exporters (I&E) window despite a 55 percent increase in the volume of dollars traded on the window. Data from FMDQ pointed that the indicative exchange rate for the window rose to N363.10 per dollar yesterday from N363.07 per dollar on Tuesday, translating to three kobo appreciation of the naira. This volume of dollars exchanged on the window yesterday decreased by 55 percent to $341.57 million from $220.61 million.

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