- After weeks of free falling against the Dollar, the Naira on Wednesday firmed against the dollar at the parallel market.
- The naira gained N1 on Wednesday afternoon as it traded for N225 against the dollar after previously trading for N226 against the dollar.
- In the same vein the naira also appreciated in value at the official interbank rate as it gained N0.02 to trade at N196.98 as against its previous value of N197.
- Traders at the parallel market expressed the belief that the naira might experience further appreciation as the price of oil at the international market went up recently.
- The price of oil has risen to 50.15 dollars at the international market.