Naira Appreciates Against The Dollar

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AFTER weeks of free falling against the Dollar, the Naira on Wednesday firmed against the dollar at the parallel market.

The naira gained N1 on Wednesday afternoon as it traded for N225 against the dollar after previously trading for N226 against the dollar.

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In the same vein the naira also appreciated in value at the official interbank rate as it gained
N0.02 to trade at N196.98 as against its previous value of N197.

Traders at the parallel market expressed the belief that the naira might experience further appreciation as the price of oil at the international market went up recently.

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The price of oil has risen to 50.15 dollars at the international market.

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