Nigeria: Naira Watch - Panic Grips Forex Dealers As Naira Rises to N385/$

23 March 2017

The Naira Thursday appreciated to N385 per dollar in the Abuja segment of the parallel market, causing panic and confusion among bureaux de change (BDC) operators.

Vanguard investigation revealed that though the exchange rate of the Naira in the Lagos segment of the parallel market stabilised between N400 per dollar and N405 per dollar yesterday, the rate in Abuja fell to a record low of N385 per dollar due to increased dollar inflows.

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