The local currency which had remained constant for two days at the parallel market, crashed yesterday, July 25, where it traded at 378 to the greenback.
However, it gained strength to trade at N375/$1 in the early hours of today, July 26.
The growth is following the decision of the Central Bank of Nigeria (CBN) to resume sale of dollars to Bureau De Change operators.
Currency traders had lamented that the poor performance of the Naira was due to persistent liquidity issue and advised the federal government alongside the CBN to consider alternative policy options to halt the currency’s decline.
Finally, Naira gains strength at the parallel market was last modified: July 26th, 2016 by May Audu