Business
Nigerian Naira depreciates in parallel market, I&E FX window
The value of the Naira dropped at the parallel market and Investors’ and Exporters’ Foreign Exchange Window on Friday.
At the parallel market, the cash and transfer rate depreciated by 0.08 per cent and 0.14 per cent to N363.00/$ and N366.00/$ respectively.
The local currency devalued further by 0.06 per cent to close at N365.23/$ from N365.00/$ previously at the I&E FX segment of market.
Dealers traded a total of $198.11 million through the I&E window as turnover hits $498.14 million on Friday.
Meanwhile, the Naira/USD rate remained stable at N306.90/$ at the interbank segment of the forex market.