NAIRA Dollar Exchange Rate Depreciates To ₦362.42

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The NAIRA dollar exchange rate depreciated to ₦362.42 at the time of right following the DATA from FMDQ.
FMDQ showed that the exchange rate for the window rose to N362.58 per dollar on Wednesday from N362.42 per dollar on Tuesday, translating to 16 kobo depreciation of the naira. The volume of dollars traded on Naira Cryptocurrency Exchanges on Wednesday decreased marginally by 73 percent to $91 million from $334.34 million traded on Tuesday.

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Moreover, there was a fall in naira parallel market according to naijabdcs.com on Wednesday. From the trading exchange rate platform of the Association of Bureaux De Change Operators of Nigeria (ABCON), the parallel market exchange rose to N363 per dollar from N361 per dollar on Tuesday, indicating two naira depreciation of the naira.
Read more at: Vanguard


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