Naira gains N123 at the black market as CBN pumps dollars into circulation

The Naira has regained about 16.5 per cent of its value against the dollar in the last three days

The local currency gained about N123.22 against the dollar after losing 36.52 per cent as of Friday last week

It was exchanged for N766.66 to a dollar, compared to N890 it traded at on Friday, November 4, 2022

The Naira gained about N123.22 against the dollar representing 16.09 per cent in the last three days, after losing 36.52 per cent of its value in almost 11 months at the black market.

The rebounding of the Naira was due to moderation in demand amid an increased supply of dollars at the parallel market.