Naira depreciates to N1,355/$ in parallel market

Naira falls to N1220/$ in parallel market




The naira yesterday depreciated to N1,355 per dollar in the parallel market from N1,350 per dollar on Monday.“However, the naira appreciated to N878.61 per dollar in the Nigerian Foreign Exchange Market (NAFEM).“Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N878.61 per dollar from N925.34 per dollar on Monday, indicating N46.73 appreciation for the naira.

The intraday high rate stood at N1336.05 per dollar while the intraday low was N701 per dollar representing N635.05 margin.
The volume of dollars traded on the window fell by 20 percent to $58.46 million from $73.33 million on Monday.