Business
Easter: Naira Gains Strength Against Dollar in Black Market
The naira appreciated against the dollar in the parallel market on Saturday, coinciding with Easter celebrations across Nigeria. Currency traders in Abuja reported that the naira traded at N1,610 per dollar, improving from N1,620 recorded on Friday.
According to Abubakar Alhasan, a Bureau De Change operator in Wuse Zone 4, the sell rate stood at N1,610 while the buy rate was N1,595 per dollar. He attributed the modest gain to reduced trading activity over the Easter holiday period.
This marks a N10 gain for the local currency compared to the previous day’s rate. Meanwhile, the official exchange market closed ahead of the holiday weekend at N1,599.93 per dollar on Thursday.
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