Naira continues recovery against Dollar at parallel market

- The Naira has appreciated to N380 per Dollar from previous rate of N385 at parallel market - The local currency however dropped five points against the Pound Sterling to close the day at N490 from the previous rate of N485 - But the Naira maintained the N420 rate against the Euro The Nigerian Naira has continued its resurgence as it strengthened against the American Dollar at the parallel market. 

According to reports, the Naira has appreciated to N380 per Dollar from the previous rate of N385/$1. However, the local currency crashed to N490 against the Pound Sterling from the previous rate of N485, but maintained same rate of N420 against the Euro. The new development follows the decision of the Central Bank of Nigeria to pump in more Dollars to the market.