Naira depreciates to N475.7/$ in parallel market


...N386 per dollar in  (I&E) window

Nigeria Currency, Naira depreciated to N475.7 per dollar in the parallel market, yeserteday. 

According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators of Nigeria (ABCON), the parallel market exchange rate rose to N475.7  per dollar from N475 per dollar  last week Friday, indicating 70 kobo depreciation of the naira. 

However, the naira yesterday was stable at N386 per dollar in the Investors and Exporters (I&E) window.

The volume of dollars (turnover) traded in the window dropped by 88 percent to $7.20 million from $59.34 million last week Friday.


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