The Naira on Saturday recovered against the US dollar at the parallel market as it appreciated to N1280/$, according to market information. This implied that the Naira appreciated by N120, representing a gain of 8.57 per cent when compared to the N1,400 to a dollar at which it traded on Friday. Currency traders confirmed that they sold between N1, 280 and N1,300/dollar. The local currency had, midweek lost a third of its value barely two weeks after strengthening to below N1,000 against the dollar. It later dropped to N1,400 against…
Read MoreNAIRA BOUNCES BACK AT PARALLEL MARKET, EXCHANGES FOR N1280/$
