The Naira recorded its first appreciation against the Dollar at the parallel foreign exchange market since the commencement of this week.
This is the case as a Bureau de Change operator in Wuse Zone 4, Abuja, Abubakar Alhasan told DAILY POST that the Naira gained slightly at N1,575 per dollar on Wednesday from N1,580 on Tuesday.
Accordingly, this showed that the Naira strengthened marginally by N5 against the dollar on Wednesday, compared to N1,580 traded the previous day.
“We sell at N1,570 per dollar and buy at N1,565 on Wednesday. Although dollar supply still remains relatively low,” Alhasan said.
Meanwhile, the official FX market continued to slide against the dollar on Wednesday.
Like in the past two days, the Naira fell to N1,504.30 per dollar on Wednesday from the N1,503.07 exchange rate quoted according to Central Bank of Nigeria FX data.
At the official market, the Naira dropped by N1.23 against the dollar compared to N1,503.07 exchanged on Tuesday.
This week, the Naira recorded depreciation across FX markets.
