Naira Makes Tremendous Recovery Against Dollar At Parallel Market

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Naira, Dollar, Parallel Market

The Nigerian currency, Naira, has recovered massively against the United States dollar at the black market on Friday, trading at N352 from N370 it sold at the parallel market on Wednesday.

READ ALSO: Naira Weakens Further To 371 As Dollar Scarcity Persists

It is reported that the local currency gained N18 between Wednesday and Friday.

The currency, however, weakened further against the pound sterling and the euro as it exchanged for N515 and N405 respectively.

READ ALSO: Naira Weakens Against Dollar As CBN Adopts Flexible Forex Policy

Meanwhile, the official exchange rate remained at N197 to a dollar at the apex bank window.

Traders at the market told NAN that the market got a boost due to the availability of the greenback for trading.

Datboyjerry

Datboyjerry

I am but your herald boy in the art of the pen.. An eccentric Environmental Biologist smouldered in the glorious epiphany of online journalism. If you ever find my article unduly insipid, sue me and i’ll refund you...

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