Naira Down At N362.58 /$ In I&E Window

The Naira yesterday depreciated to N362.58 per dollar in the Investors and Exporters (I&E) window due to a 73 percent decline in the volume of dollars traded. Naira-Dollar Naira depreciates to N363.5/$ in parallel market Data from FMDQ showed that the indicative exchange rate for the window rose to N362.58 per dollar yesterday from N362.42 per dollar on Tuesday, translating to 16 kobo depreciation of the naira. The volume of dollars (turnover) traded yesterday decreased marginally by 73 percent to $91 million from $334.34 million traded on Tuesday. Similarly, the naira, yesterday,  depreciated by two naira 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 rose to N363 per dollar from N361 per dollar on Tuesday, indicating two naira depreciation of the naira.