Naira gained against the U.S. dollar on Friday at the official market, appreciating by 0.06 per cent.where forex is officially traded, the naira closed at N445.50 per dollar on Friday with $94.07 million recorded as forex turnover against $166.88 million posted on Thursday.
However, the local unit continued to fall at the parallel market on Friday due to soaring demands of the hard currency following the central bank’s move to redesign Nigeria’s currency. “The truth is many people are coming to exchange dollars with bags of naira due to the CBN’s recent move to redesign our currency. So people are rushing to change their naira to the dollar without minding the cost,” a dealer at the Zone 4 market told PREMIUM TIMES.He explained that the lingering pressure to convert naira notes to dollars is the reason behind the soaring exchange rates at the unauthorised window.
Exchange rates today Buying - 890 Selling - 895
That awesome 👌