Naira depreciates to N361.85/$

Naira depreciates to N361.85/$

The naira yesterday depreciated by 23 kobo to N361.85 per dollar in the Investors and Exporters (I&E) window.

Data from FMDQ showed that the indicative exchange rate for the window rose to N361.85 per dollar yesterday from N361.62 per dollar last week Friday, indicating 23 kobo depreciation of the naira.
However, the naira appreciated by 50 kobo to N358 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 dropped to N358 per dollar from N358.5 per dollar last week Friday, indicating 50 kobo appreciation of the naira.