Naira depreciates to N362.25/$

The Naira, yesterday, depreciated marginally  by 85 kobo to N362.25 per dollar in the Investors and Exporters window.

Data from FMDQ showed that the indicative exchange rate for the window rose to N362.25 per dollar yesterday from N361.40 per dollar on Wednesday, indicating 85 kobo depreciation of the naira.

On the other hand, the volume of dollar traded in the window declined by 18 percent to $147.21 million from $179.09 million traded yesterday.

However, the naira appreciated by 50 kobo to N385.5 per dollar in the parallel market yesterday.

According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators of Nigeria (ABCON), the parallel market exchange rose to N358.5 per dollar from N359 per dollar on Wednesday, indicating 50 kobo appreciation of the naira.

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