Naira depreciates to N362.19/$


The Naira, Thursday, depreciated to N362.19 in the Investors and Exporters (I&E) window.

Data from FMDQ showed that the indicative exchange rate for the window rose to N362.19 per dollar yesterday from N362.08 per dollar on Wednesday, indicating 11 kobo appreciation of the naira.

The volume of dollars traded in the window Thursday, however, rose by 12 percent to $164.86 million from $146.85 million on Wednesday. On the other hand, the naira yesterday appreciated by 40 kobo to N358 per dollar in the parallel market.

According to, the live exchange rate platform of the Association of Bureaux De Change Operators (ABCON), the parallel market exchange dropped to N358 per dollar from N358.4 on Wednesday, translating to 40 kobo appreciation of the naira.