parallel market

Naira Gains as Dollar Falls to ₦1,375 in Parallel Market

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The naira has strengthened against the US dollar in both Nigeria’s official and parallel foreign exchange markets, with the dollar falling to ₦1,375 in the parallel market. The latest movement means the naira gained ₦8 against the dollar in the parallel market, where it traded at ₦1,383 on Tuesday. In the official market, the naira … Read more

Will the naira fall again? Exchange rate improves as analysts warn fuel importers could reverse gains

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Naira Exchange Rate Today

Nigeria’s currency ended the week on a stronger note after recording gains against the US dollar in both the official and parallel foreign exchange markets. The positive performance comes even as market analysts caution that increased demand for foreign currency, particularly from fuel importers, could place the naira under renewed pressure in the coming days. … Read more