Naira Strengthens Against The Dollar, Sells At N1400/$ On The Parallel Market

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Parallel market operators are quoting a buy price of N1400/$1 for holders of dollars looking to sell marking a significant strengthening on the naira.

Checks by Nairametrics indicate the exchange rate has been gaining lately as speculators start to dump their hoard of dollars following waning demand.

Multiple sources who operate in the parallel market revealed that the naira has risen from around N1600/$ which it closed yesterday to N1500/$ (some quoted N1550/$1) if they are to sell to you.

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