The Naira recovered against the US Dollar yesterday in the parallel market, appreciating to N1280/$, according to market information obtained by TheTimes from currency traders.
This implied that the Naira appreciated by N120, representing a gain of 8.57 percent when compared to the N1,400 per dollar it traded at on Friday.
Currency traders confirmed that they sold between N1,280 and N1,300/dollar.
The local currency by mid-week lost a third of its value, just two weeks after strengthening to less than N1,000 against the dollar.
