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Naira appreciates to N358/$

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By Elizabeth Adegbesan
The Naira, yesterday, appreciated by 50 kobo to N358 per dollar 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 N358 per dollar from N358.5 per dollar last week Friday, indicating 50 kobo appreciation of the naira.

On the other hand, the naira depreciated yesterday by 40 kobo in the Investors and Exporters (I&E) window.
Data from FMDQ showed that the indicative exchange rate for the window rose to N362 per dollar yesterday from N361.6 per dollar last week Friday, indicating 40 kobo depreciation of the naira.

The volume of dollars traded in the window yesterday rose by 34 percent to $155.68 million from $115.87 million traded last week Friday.

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