The Nigerian Naira, on Wednesday, February 1, caught a break at the parallel or black market segment of the Nigerian Currency Market.
The local currency, which hit its lowest point in history on Monday, trading at N500 to the U.S Dollar, recovered slightly to N499 on Tuesday and on Wednesday, firmed up to N498 against the greenback.
However, the Nigerian currency traded for N615 against the British Pound Sterling and traded for N525 against the Euro.
The Naira on Tuesday, January 31, had rebounded at the parallel trading at N499 to the dollar in contrast to the rate of N500 it traded for the previous day.
At the interbank market, on Tuesday, the naira was quoted at 305.25, the level it has been trading at since last August.
