For the third consecutive day, the Nigerian
currency remained firm against the dollar on
the parallel market.
The naira which had been on a free fall
against the dollar in previous weeks,
strengthened against the dollar this week,
standing at an appreciable N320/dollar for
the third consecutive day.
Black market sellers
revealed that the recent trips by President
Muhammadu Buhari, coupled with the prices
of crude oil, which rose to a four-month high
on Tuesday, April 12, may have contributed
to the latest developments.
NAIJ.com’s daily exchange monitor.
And as one of our reliable sources told us
on Tuesday, the naira exchange rate may
not necessarily appreciate on the black
market, but there are chances it will not fall
against the American currency this week.
“Since Monday, we have been selling
between N320 and N319/dollar and that is
the way it has been everywhere in the
country all week.
“It is a positive sign that better things are
underway for us this week, perhaps this
trend can follow us into the new week and
get better in the coming weeks that we have
this new month,” our impeccable source
revealed.
