The Naira has appreciated by seven per cent against the dollar at the parallel market following the victory of Gen. Muhammadu Buhari (rtd.), in Saturday’s presidential election.
The naira which was sold for 228 against the dollar before the election, rose to 211 on Wednesday according to Bureau de Change operators.
Acting President, Association of Bureau de Change Operators of Nigeria, Alhaji Aminu Gwadabe, reportedly said he expected the naira to rise further.
He said, “I think the trend will continue. The naira may appreciate from 211 to something below 197 currently at the interbank market.”
The naira-dollar exchange rate has not witnessed any change at the interbank market, on Wednesday, Naira closed at 197 to the dollar.