LAGOS AUGUST 21ST *URHOBOTODAY)– Nigeria’s naira has sustained the gains recorded this week, edging higher on Friday against the U.S dollar at the parallel market — N208 / $1 — having traded at N223 on Monday and N212 just yesterday (Thursday).
The British Pound Sterling and the Euro also traded at N330 and N230, respectively, at the parallel market on Friday, according to a survey by the News Agency of Nigeria (NAN).
The official interbank exchange rate, however, remained at N197 to the Dollar.
The naira’s gain could be attributed to the new regulations on foreign exchange introduced by the Godwin Emefiele led Central Bank of Nigeria to curb speculation and dollarisation of the nation’s economy.