Home Business Naira Extends Gain on Parallel Market, Now $449/$1
Naira Extends Gain on Parallel Market, Now $449/$1
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Naira Extends Gain on Parallel Market, Now $449/$1

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The naira appreciated further on the parallel market yesterday to close at $449

to the dollar, stronger than the N453 to a dollar it closed the previous day.

But the buy rate of the greenback appreciated to $445 to the dollar yesterday. 

This is just as the country’s external reserves defied flunctuations in prices of crude oil in the international market and continued on the path of growth. The latest figures from the Central Bank of Nigeria (CBN) showed that the country’s external reserve was at $30.304 billion as at Thursday. At its current value, the external reserve has grown by $4.461 billion year-to-date.

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