The naira appreciated by seven per cent
to 211 against the United States dollar at the parallel market following
the victory of the candidate of the All Progressives Congress, Gen.
Muhammadu Buhari, in Saturday’s presidential election.
The local currency, which sold for 228
against the dollar before the election, rose to....
211 on Wednesday, Bureau
de Change operators said.
The Acting President, Association of
Bureau de Change Operators of Nigeria, Alhaji Aminu Gwadabe, said he
expected the naira to rise further.
Foreign exchange dealers said the demand for dollar had reduced compared to what happened before the presidential election.
A currency analyst at Ecobank Nigeria,
Mr. Kunle Ezun, said the market had been trading around the general
elections and Buhari’s person.
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