THE Naira yesterday recovered against the US dollar at the parallel market as it appreciated to N1280/$, according to market information obtained by Naijaonpoint from currency traders.
This implied that the Naira appreciated by N120, representing a gain of 8.57 per cent when compared to the N1,400 to a dollar at which it traded on Friday.
Currency traders confirmed that they sold between N1, 280 and N1,300/dollar.
The local currency had, midweek lost a third of its value barely two weeks after strengthening to below N1,000 against the dollar.