Naira depreciates to N365 in parallel market

By Babajide Komolafe
The naira yesterday depreciated to N365 per dollar in the parallel market owing to increased demand for dollars.

Vanguard survey revealed that the parallel market exchange rate rose from N363 per dollar on Wednesday to N365 per dollar yesterday.

The naira however appreciated by N1.31 in the Investors and Exporters (I&E) window yesterday as the indicative exchange rate dropped to N367.19 per dollar from N368.5 per dollar on Wednesday, while the volume of dollar traded dropped slightly to $97.03 million from $101 million on Wednesday.

 

The post Naira depreciates to N365 in parallel market appeared first on Vanguard News.