Naira has gained massively at the black market on Christmas with dollar falling.
Newsone reports that the Nigerian official currency, Naira has gained against the United States dollar, exchanging at N555/$1 after opening the week at N570 per dollar on Monday, December 20, 2021.
A survey conducted by Newsone Nigeria at the Bureau De Change (BDC) market in Ogba area of Lagos, Nigeria’s commercial city, on Christmas Day, Saturday morning, December 25, 2021, showed that the naira to usd exchanged at N555/$1, gaining N15 from the N570 position of 1 dollars to naira it started the week with though still poor compared to when usd to naira exchanged for N530/$1 on November 11, 2021.
Naira to dollar gains at Black market (parallel market)
The exchange rate between the naira to dollar and dollar to naira on Saturday morning, December 25, showed that the Nigerian official currency, Naira has gained against the United States dollar days after it opened the week on the rise which saw it exchanging at N570 per dollar on Monday, December 20, 2021.
The local currency opened at N555.00 per $1 at the parallel market otherwise known as the black market, today, Saturday, 25 December 2021, in Lagos Nigeria after it closed N565.00 per $1 on Friday, 24 December 2021.
Newsone Nigeria reports that at the black market, the players buy a dollar for N550 and sell for N555 on Saturday morning, December 25