Naira Gains Traction to N515/$ At Parallel Market

The Nigerian Naira, on Wednesday, February 22, garnered more strength against the U.S Dollar at the parallel or black segment of the foreign exchange market.

The local currency traded at N515 per United States dollar gaining one point from the N516/dollar rate on Tuesday, February 20.

However the Naira traded at the same rate against the British Pound Sterling at N640 and at the rate of N540 against the Euro.

On Tuesday, the Naira firmed up the first time in several weeks at the black market gaining four points from the N520/dollar to exchange at N516 per United States dollar.

The Nigerian currency also gained traction to trade at N630 against the Pound sterling from N635 and N540 from N545 against the Euro.








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