Naira Holds Its Position Against Dollar

On Wednesday, August 26, at the parallel
market the Nigerian currency remained firm
against the dollar.
It should be noted that the naira has gained a
couple of points to 211 for the dollar.
On Monday, August 17, the naira demonstrated a
rise against the USD to 217 at the parallel market
from the 221 recorded on Friday.
The naira had weakened on the parallel market to
as much as 245 to the dollar last month.
READ ALSO: SHOCKING: See How CBN Defends
Naira
Abubakar Audu, parallel market trader said that
the position of the naira was after the Central Bank
of Nigeria (CBN) sold dollars to operators of
Bureau de Change (BDC).
He added that would likely be the position of the
naira when the CBN would sell to BDC operators
on Friday.
On the official interbank market the naira stay
unchanged at 197 to the dollar.