Naira depreciate against dollar

The naira yesterday depreciated to N358.5 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 rose to N358.5 per dollar from N358.2 on Monday, translating to 30 kobo depreciation of the naira.

However, the naira yesterday appreciated by 14 kobo in the Investors and Exporters (I&E) window.

Data from FMDQ showed that the indicative exchange rate for the window dropped to N360.25 per dollar from N360.39 per dollar on Monday, translating to 14 kobo appreciation of the naira.

The volume of dollars traded on the window rose slightly by 37 percent to $307.05 million from $224.85 million traded on Monday.

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