Do you think the inaugural speech of President Bola Ahmed Tinubu, has anything to do with the gradual recovery of the Naira’s exchange rate on the parallel market?
On the parallel market also known as the black market, the Naira, began regaining composure against the Dollar.
Read Also: Black Market: CAD ₦289, Dollar ₦286 Above CBN Exchange Rate
Naira today exchanges on the black market for ₦745 to a $1 when buying and ₦742 to a dollar when selling.
This is against the ₦772 it traded yesterday.
Exchange rate for the Naira this week began at ₦764 (buy) and ₦760 (sell) to a dollar on the black market seems to be regaining composure.
As at Tuesday the dollar was bought at ₦780 and sold for ₦770.
With this, one may project that there is hope for the Naira and those who engage in Forex trade may soon start to feel some comfort.
You May Also Read: Black Market: Dollar To Naira Exchange Rate
Meanwhile, on the Central Bank of Nigeria (CBN) official market, the Naira has remained at a fixed point of ₦461 (sell) and ₦460.6 (buy)
Dollar to Naira Rate for Past 7 Days
| Date | Buy | Sell |
| May 31, 2023 | 772 | 768 |
| May 30, 2023 | 780 | 770 |
| May 29, 2023 | 764 | 760 |
| May 28, 2023 | 763 | 759 |
| May 27, 2023 | 762 | 758 |
| May 26, 2023 | 760 | 756 |
| May 25, 2023 | 765 | 760 |
