Markets

Nigeria naira firms 2.8pc on parallel market after FX reforms

Published June 17, 2016 Updated June 17, 2016 02:55pm

1 min

By Shoaib Ur Rehman

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LAGOS: Nigeria naira firmed to 355 to the dollar on the parallel market on Friday, up 2.8 percent from the previous day after the central bank introduced reforms designed to relaunch interbank currency trading and attract foreign investors.

The naira traded at a volume of $1 million at the pegged rate of 197 naira on the official interbank market on Friday, traders say, adding it was carryover trades from previous deals.

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