Naira Gains N5 To Close At N375/$ In parallel market

PIX: Naira and Dollar Notes

Naira and Dollar Notes

 

The naira on Friday rose to N375 per dollar in the parallel market in response to increased dollar supply and decline in demand.

The parallel market exchange rate which had been stable at N385 per dollar since last week dropped to N375 per dollar, due to increased dollar inflow from Central Bank to bureaux de change.

Vanguard investigations also reveal decline in demand for dollars resulting into lull in market activities.

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