Business
Naira Shows Stability on Parallel Market, Slightly Weakens Officially
The naira maintained its position against the US dollar in the parallel market on Thursday, trading at N1,585 to the dollar — the same rate recorded the previous day. This was confirmed by Bureau de Change operator Abubakar Alhasan in Wuse Zone 4, Abuja.
However, slight movement was seen at the official foreign exchange market, where the naira experienced a minor depreciation. Data from the Central Bank of Nigeria showed the currency closed at N1,530.62 per dollar, reflecting a marginal drop of 10 kobo from Wednesday’s rate of N1,530.52.
This follows a brief appreciation recorded by the naira midweek, marking its only gain so far this week.
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