The Nigerian naira has staged a recovery against the dollar at the black market.
Naira and dollar
The naira on Friday, 26th March 2021 recorded an improvement against the dollar at the parallel market (black market).
This comes after the naira exchanged N485/$1, representing a N1 gain when compared with the N486/$1 that was recorded in the previous trading day.
However, the naira depreciated against the dollar at the official NAFEX window on Friday, 26th March 2021 for the second consecutive day to close at N410 to a dollar.
This represents a 0.06% drop, when compared to N409.75/$1 recorded on Thursday, 25th March 2021.
This is as Nigeria’s external reserve continued its rebound gaining 0.09% to close at $34.65 billion as of Thursday, March 25, 2021.