• Tuesday, May 21, 2024
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BusinessDay

Naira gains N4 over dollar on black market

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The foreign exchange market opened on Wednesday with the Naira gaining N4 against the dollar on the black market.

Naira is currently exchanging for N376 with the dollar in some parts of black markets in Lagos like Apapa.

However, with strong bargaining power, the dollar can be purchased at N375 in some areas like Festac.

Dollar settled at N378 per dollar at the end of trading on Tuesday from N380/$ traded in the morning of the same day.