Naira appreciates to N359/$ in parallel market

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The Nigerian currency, naira appreciated to N359 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 dropped to N359 per dollar from N359.6 last week Friday, translating to 60 kobo appreciation of the naira.

The volume of dollars traded on the window yesterday dropped marginally by 88 percent to $71.14 million from $606.21 million traded last week Friday.

However, the naira yesterday was stable at N362.50 in the Investors and Exporters (I&E) window.

Peace PIAK