Business Naira Firms Against Dollar at Parallel Market

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Nigeria naira firmed to 340/$ from 365 to the dollar on the parallel market on Friday, after the Central Bank introduced reforms designed to relaunch inter-bank currency trading and attract foreign investors.

The naira gains ahead of currency floating on official market from Monday, Aminu Gwadabe, president of Bureau de Change Operators of Nigeria, told Bloomberg by phone

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The naira traded at a volume of $1 million at the pegged rate of 197 naira on the official interbank market on Friday, traders say, adding it was carryover trades from previous deals.
 
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