BY Elizabeth Adegbesan
The Naira, Wednesday, depreciated to N364.26 in the Investors and Exporters (I&E) window despite the 170 percent rise in the volume of dollars traded. Naira
Data from FMDQ showed that the indicative exchange rate for the window rose to N364.26 per dollar yesterday from N363.69 per dollar on Monday, translating to 57 kobo depreciation of the naira.
The volume of dollars (turnover) traded yesterday in the window rose by 170 percent to $348.02 million from $129.06 million on Monday.
However, the naira yesterday stood at N362.5 per dollar 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 dropped to N362.5 per dollar from N363.5 per dollar on Monday, indicating one naira appreciation of the naira…..https://www.vanguardngr.com/2018/11/naira-depreciates-to-n363-5-in-parallel-market/