Naira Rebounds at Official, Parallel Markets to N1,535, N1,700

Nume Ekeghe

The naira rebounded yesterday, posting gains in both the official and parallel markets following three consecutive days of losses.

At the parallel market, the currency appreciated by 1.18 per cent, strengthening from N1,720 to N1,700, a gain of N20 in a single day.

In the official market, the naira recorded modest improvement. The average rate rose to N1,535.67, up from Wednesday’s N1,537.12, marking an appreciation of 0.09 per cent. The highest rate traded at the Nigerian Foreign Exchange Market (NFEM) was N1,550, while the lowest stood at N1,532.