Naira Crashes Against Dollar…See Current Value

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The Nigerian currency, Thursday depreciated to N360.4 per dollar in the Investors and Exporters (I&E) window of the foreign exchange market.

Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the window rose to N360.40 per dollar, Thursday, from N360.21 per dollar on Tuesday, indicating a 19 kobo appreciation of naira.

Meanwhile, the volume of dollars traded in the window rose by 2.3 per to $170.46 Thursday from $166.58 million on Tuesday.

The naira also fell by N1 in the parallel market as the parallel market exchange rate dropped to N363 per dollar Thursday from N364 per dollar on Wednesday.

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