Naira up at N359/$ in parallel market

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Naira up at N359/$ in parallel market
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The naira yesterday appreciated to N359.5 per dollar in the parallel market. According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators (ABCON), the parallel market exchange dropped to N359 per dollar from N359.5 on Wednesday, translating to 50 kobo appreciation of the naira.

On the other hand, the naira yesterday depreciated by12 kobo in the Investors and Exporters (I&E) window. Data from FMDQ showed that the indicative exchange rate for the window rose to N360.80 per dollar from N360.68 per dollar on Wednesday, translating to 12 kobo depreciation of the naira. The volume of dollars traded on the window rose by 74 percent to $ 202.75 million from $116.29 million traded on Wednesday.

Source: Vanguard.
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