Naira Gains At Parallel Market

The Nigerian naira gained marginally against the US dollar at the parallel market to trade at N565 per dollar.

This figure is N5 or 0.9 percent higher than the N570 it traded last week.

Street traders across forex markets in Lagos who spoke to TheCable on Wednesday quoted the naira at N565 to a dollar.

A parallel market (street market) is characterised by noncompliant behaviour with an institutional set of rules.

About Don Saint

PR Guru / Author / Promoter / Controversial Writer / Hip Hop Artiste / Actor / Human Rights Activist. The First Nigerian Hip Hop Artiste to obtain a Masters Degree (M.A) in Arts ( Religion & Human Relations). The author of one of the most controversial books in Nigeria; "Emancipation from Masturbation". With over 12 Movies and 3 Musical albums since 2003. Former Events Manager at Silverbird’s Rhythm Fm Awka Station till 2010. For more info. Call : 08033239298.

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