Business Naira Strengthens to 381 Per Dollar At Parallel Market


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Nigerian naira opened trading on Friday on the bullish side, rising to N375 per dollar in the parallel market in response to increased dollar supply and decline in demand.

Recall that the parallel market exchange rate which had been stable at N385 per dollar since last week dropped to N375 per dollar on Thursday, due to inflow from CBN dollar sale to bureaux de change.

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The currency remained stable against the Pound sterling and Euro at the market.

At the official market, the currency closed at 305.45 to the dollar on Thursday.
 
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