Sunday, Oct 25th 2020 7:28 PM
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Market Digest Nigeria

Business

Naira rises back to N385/$ at black market

The Nigerian currency on Tuesday morning, appreciated back to N385 to the Dollar at the parallel market almost 24 hours after it crashed to N390 per Dollar.

This followed the release of $246.2 million into the foreign exchange market by the Central Bank of Nigeria (CBN) on Monday for wholesale, SMEs and invisibles.

The Naira closed N390 to the Dollar on Monday, losing N5 against the Dollar at the black market, but this morning, it went back to N385 at the same market.

While the Nigerian currency was sold at N495 to the Pound Sterling, it was traded at N415 to the Euro at the parallel market.

 

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