Naira springs marginal gains in official, parallel FX markets

The Naira firmed up against the dollar in parallel foreign exchange markets on Wednesday.

A Bureau de Change operator, Abubakar Alhassan, said that that the rate appreciated to N1,660 per dollar on Wednesday from N1,675 exchanged on Tuesday.

In the parallel market, the local currency gained N15 against the dollar, compared to N1, 675 traded the previous day.

Similarly in the official market, the Naira closed at N1, 552.58 per dollar on Wednesday, a slight appreciation from N1, 552.78 traded on Tuesday.

The development comes as the Central Bank of Nigeria, on Wednesday, approved the release of FX code.

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