Naira Gains Slightly Against Pound at Parallel Market

By Dipo Olowookere

At the parallel segment of the foreign exchange (forex) market on Wednesday, the Naira slightly appreciated against the Pound Sterling.

The local currency, at the close of business today, recorded a marginal gain of N2 against the British currency.

The Naira, which was traded at N475 to a Pound at the black market, closed at N473 per Pound on Wednesday.

However, the local currency remained unchanged against the two other major foreign currencies at the market.

Business Post reports that the Dollar was sold at N363 at the parallel market, same rate it was traded yesterday, while it closed at N420 to a Euro, the same amount it was transacted at the market on Tuesday.