Naira Drop To N361.5/$ In Parallel Market

Naira notes

 

The Naira opened the week losing ground by 50 kobo to N361.5 per dollar in the parallel market.

According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators (ABCON), the parallel market exchange rate rose to N361.5 per dollar yesterday from N361 per dollar last week Friday, indicating 50 kobo depreciation for the Naira.

However, the naira on Monday appreciated by 36 kobo in the Investors and Exporters (I&E) window. Data from FMDQ showed that the indicative exchange rate for the I&E window dropped to N360.55 per dollar from N360.91 per dollar last week Friday, translating to 36 kobo appreciation for the naira.

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