JUST IN: Naira rebounds to N368/$1 at parallel market

JUST IN: Naira rebounds to N368/$1 at parallel market

- The Naira has gained strength against the American Dollar at parallel market

- The local currency however stayed firm against Pound and Euro

- This is coming as the National Assembly is seeking a special dollar exchange rate for pilgrims

The Naira on Thursday, June 29, gained N2 against the American Dollar at the parallel market.

This follows report that the local currency closed the day at N368 to the Dollar, stronger than the N370 it closed on Wednesday, June 28.

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According to NAIJ.com findings, the pound sterling and the Euro closed at N465 and N410, respectively as it was yesterday.

Naira appreciates against Dollar

Naira to Dollar

Meanwhile the National Assembly is seeking a special dollar exchange rate for both Christian and Muslim pilgrims.

Dr Balarabe Salame, a member of the House of Representatives (APC-Sokoto), has said "The gesture is to lessen the sufferings of prospective pilgrims and to enable more Nigerians to perform pilgrimage to in Saudi Arabia and Israel."

Salame, who is also the Chairman, House of Representatives Special Committee on Nigerian-Saudi Arabian on Hajj, on Thursday, June 29 said: "The Federal Government gave an exchange rate of N360 to a dollar this year and this is on the high side.

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”This is why the 2017 Hajj fare for Muslim pilgrims soared to N1.52 million per prospective pilgrim.”

Can N1 ever become $1 again at Forex Market? Watch Nigerians respond to this question.

Source: Naija.ng

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