Naira strengthens against dollar at parallel market

The naira on Monday slightly strengthened against the dollar at the parallel market, in spite of scarcity of the dollar.

The naira gained one point to exchange at N305 from N306 it exchanged previously.

At the official market, the Nigerian currency closed at N197 to the dollar.

Traders in the parallel market, however, noted that the naira had remained stable, exchanging between N305 and N306 to the dollar.