– Naira continues to stay strong against the Dollar at parallel market
– The local currency, however, appreciated against Euro
– The Nigerian currency traded at N362, N502 and N444 against the Dollar, Pound Sterling and Euro respectively
The Nigerian Naira on Wednesday, March 21, retained its strengthened rate at the parallel market against Dollar.
According to NAIJ.com findings, the local currency maintained the same rates of N362 against Dollar at the parallel market as it was yesterday, March 20, but appreciated against Euro.
NAIJ.com in a previous report said the Senate on Tuesday, February 13, ordered its committee on banking, insurance and other financial institutions to probe the scarcity of lower currency denominations in the country.
The lower denominations in insufficient supply are N5, N10, N20, N50, N100 and N200. The red chamber said the scarce denominations are critical to the economic growth of the country, especially as it recently recovered from recession., The Guardian reports.
Can N1 ever become $1 again at Forex Market? Watch Nigerians respond to this question on NAIJ.com TV.