On Wednesday’s parallel market, the naira strengthened further versus the US dollar, closing at 850/dollar.

The Central Bank of Nigeria stated its intention to intervene in the foreign exchange market two days before to the occurrence.

The naira was sold for around 950/dollar at the parallel market on Monday. It crashed to between N805 and N790 on Tuesday.

Speaking with Punch on Wednesday, a Bureau de Change operator, Alh Taofeek Ahmed, said, “We bought and sold the naira at 830/$ and 850/$ today. The demand was lower compared to last week. ”