NAIRA GAINS N100 AND CURRENTLY TRADES FOR N840 TO $1 IN THE PARALLEL MARKET.

According to The Nation, the Naira gained N100 yesterday, closing at N840/$ on the parallel market in Lagos.

It did, however, close lower at N850/$ in Abuja markets, indicating a 9.57 percent increase over Tuesday’s pricing.

The naira finished at N759 to the dollar at the Investor and Exporter (I&E) window, generating a N81 premium between the official and parallel markets.

The I&E window had a $61 million turnover. The naira began the day at N940/$ and progressively jumped to the present rate, according to Bureau De Change operators in Wuse Zone 4, Abuja. Ibrahim Bakori, one of the traders, told The Nation that the naira’s appreciation astonished him.

When asked what he believed was to blame, Bakori stated that it was “the result of the meeting between President Tinubu and Acting CBN Governor Folashodun Shonubi.”