Despite NLC strike, naira lands hot blow to dollar, checkout new rate

Despite the on-going Nigeria Labour Union nationwide strike over fuel hike, the naira has strengthened against the American dollar in the black market, NAIJ.com can authoritatively report this Wednesday, May 18.

According to our Bureau De Change source, the nation’s currency has gained strength and now trades at N344 as against the N348 it was on Tuesday, May 17.

READ ALSO: CBN denies devaluation of naira claims

Our BDC source in Katsina said: “The naira against dollar stands at N344 today in Katsina. Business activity is going smoothly over here, although we hear there is protest in some other places over the recent fuel hike.

“Many of us opened our shops today but some of us still don’t have dollar to sell because there is serious rush for it.”

The naira which closed the week on Friday, May 13, at N367 per dollar, made a remarkable comeback on Monday, May 16, to start the new week at N360/$1.

READ ALSO: Increase in PMS crashes naira to N331/$1 in parallel market

This growth was sustained on Tuesday, May 17, as again the naira strengthened to N348/$1 and now N344/$1 today.

NAIJ.com findings have also showed hat people have carried on with their usual daily activities despite NLC on-going nation wide strike to protest the fuel hike.

But there are fears that the strength the naira is presently gaining over the dollar may be affected should the NLC strike persist.

You can check out our bureau de change market here for the most authentic forex rates.

The post Despite NLC strike, naira lands hot blow to dollar, checkout new rate appeared first on Nigeria News today & Breaking news | Read on NAIJ.COM (Nigerian newspapers).