Naira Static At N460/$ At Parallel Market

The Nigerian Naira on Monday, February 27, remained stable against the American Dollar at the parallel or black segment of the Nigerian foreign exchange market.

The local currency stayed the same trading at the rate N460 at the parallel market against the greenback, the same rate it traded for on Friday.

The Naira had gained 30 points to trade at N470 per to a dollar on Wednesday from the rate of N500 it traded for.

Meanwhile, the local currency has surged against the British Pound Sterling to trade at N565 from N575 and strengthened against the Euro to trade at N470 from N480.

Naira which rose to an all time high of N522 to the dollar last week Monday had gained N62 by the weekend to sell at N460 to the greenback.



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