Naira appreciates slightly against US Dollar at Parallel Market

The Naira on Friday appreciated slightly against the dollar at the parallel market end of the foreign exchange market.

The News Agency of Nigeria (NAN) reports that the naira traded at N321.5 to the dollar on Friday afternoon from the previous N322 on Thursday.

The currency, however, maintained its old rate against the pound sterling and the Euro at that segment of the market.

It is being traded at N450 and N359 to the pound sterling and the Euro, respectively, on Friday.

Meanwhile, the naira has continued to exchange at N197 to the dollar at the official market of the CBN.

Some traders said that transactions at the parallel market were still low as participants remained cautious.

Photo Credit: foto.com.ng/Nsoedo Frank