Naira appreciates further in parallel market.. See the new selling rate per Dollar

Naira appreciates further, sells at N390/$ in parallel market

A Bureau de Change operator, who preferred anonymity in Abuja, said that the gains made by naira over the dollar were due to CBN's continued flooding of the market with dollars while there were very few or no customers to patronise them.

The CBN Governor, Mr Godwin Emefiele, on Tuesday, expressed optimism about the convergence of the Forex rates at the official and parallel markets, stating that the gains made by the naira against the greenback in the last five weeks were not a fluke.

"In terms of sustainability, I think it is important for us to say that the foreign reserves at this time are still trending upwards to almost 31 billion dollars as I speak with you.