Naira further appreciates against dollar on black market

The naira further firmed up against the dollar on Wednesday on the parallel foreign exchange market.

Alhasan Abubakar, a Bureau de Change operator at Wuye Zone 2, Abuja, confirmed to Newspot that the naira exchanged at N1,660 per dollar on Wednesday, up from N1,675 recorded on Tuesday. Accordingly, this indicates a gain of N15 against the dollar.

Meanwhile, on the official market, the naira weakened slightly to close at N1,544.20 per dollar on Wednesday, down from N1,544.05 on Tuesday, losing N0.15.

Newspot reports that the naira strengthened against the dollar on both FX markets the previous day.