Business Naira Appreciates 8.9% To 460 Per Dollar At Parallel Market



Nigerian naira on Friday appreciated 8.9 per cent to close at 460 to a dollar at the parallel market, fourth continuous days since the Central Bank of Nigeria relaxed the Forex policy.

The local currency also gained heavily against Pound sterling and Euro to close at 575 and 480 respectively, according to data gathered from the Abokifx market spot.


This development is coming as Central Bank of Nigeria sold $1.5 million on the interbank market at 305.50 per dollar on Friday to boost liquidity.

This helped push the naira to 460 on the black market, its highest level in more than three months, following several interventions by the central bank this week.