Good News; Naira adds in value, now N317 against dollar in parallel market
According to reports from the horse’s mouth in the bureau de change, the nation’s currency, the naira at present trades between the rate of N317 and N320 for a dollar as against the N319 and N320 it was last Friday.
The naira had maintained a solid stand against the dollar throughout last week. However, economic situation was rare in the parallel market for the past few months.
Nigerians have continued to predict that the naira is probably not going to exceed the N320 rate. Even though this speculation correlates with what is presently obtainable in the currency exchange, the national currency is still close to the thin border of N320 and if chances are not taken to maintain the N317-N320 exchange rate, it will exceed N320.
As US Dollar trades for N320, Euro and GB Pound are exchanged for 360 and 445 respectively.