Naira rises against dollars at parallel market
For the first time since last week, the naira strengthened versus the dollar on both the official and black market foreign exchange exchanges.
The naira slightly increased in value against the dollar on Thursday, trading at N1,554.65, from N1,561.98 on Wednesday, according to FMDQ statistics.
By comparison, the N7.33 gain against the dollar from the N1,561.98 traded the day before is represented by this.
In a similar vein, on the parallel market, the value of the naira increased from N1,560 on Wednesday to N1,550 on Thursday.
According to FMDQ data, foreign currency transaction turnover reached $348.82 million on Thursday, coinciding with the development. The naira has depreciated since last Friday, dropping N52.31 over the reference period.
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