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Stats: 17,257 members, 67,607 Topics, 15,155 Comments. Date: May 22 2019, 6:41 pm

Ademola
national open university
entrepreneurship and business management
300Level, Nigeria.
The Naira, yesterday, depreciated to N369 per dollar in the parallel market. Naira According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators (ABCON), the parallel market exchange rose to N369 per dollar from N368 per dollar last week Friday, translating to N1.00 depreciation of the naira.

Meanwhile, the naira yesterday depreciated by N2.48k in the Investors and Exporters (I&E) window due to a 94 percent decline in the volume of dollars traded. Data from FMDQ showed that the indicative exchange rate for the window dropped to N364 per dollar yesterday from N361.52 per dollar last week Friday, translating to N2.48k depreciation of the naira.

The volume of dollars (turnover) traded yesterday in the window dropped by 94 percent to $24.01 million from $386.29 million last week Friday.

Read more at: www.vanguardngr.com/2018/12/naira-down-to-n369-in-parallel-market-2/

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