Blog, News

Naira appreciates to N358.5/$ in parallel market

The naira yesterday appreciated to N358.5 per dollar in the parallel market. Naira 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 N358.5 per dollar from N359 per dollar last week Friday,NAIRA.jpg indicating 50 kobo appreciation of the naira. However, the naira yesterday depreciated by 33 kobo in the Investors and Exporters (I&E) window even as the volume of dollars traded rose marginally to $586.83 million. Data from FMDQ showed that the indicative exchange rate for the window rose to N363.11 per dollar yesterday from N362.78 per dollar last week Friday, indicating 33 kobo depreciation of the naira. The volume of dollars traded on the window yesterday rose by 135 percent to $586.83 million from $249.84 million traded last week Friday.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s