The value of Nigerian naira on Wednesday increased by 50 kobo to N360 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 rate dropped to N360 per dollar yesterday from N360.5 per dollar on Tuesday, translating to 50 kobo appreciation for the naira.

Similarly, the naira appreciated by 22 kobo in the Investors and Exporters window yesterday.

Data from FMDQ showed that the indicative exchange rate for the I&E window dropped to N360.91 per dollar from N361.13 per dollar on Tuesday, indicating 22 kobo appreciation for the naira.