Naira (NGN USD) Jumps on Nigeria Streets, Crypto Trade After Forex Cleared
https://www.bloomberg.com/news/artic...er-crypto-gain


Nigeria’s naira jumped against the dollar on the parallel market and on crypto exchanges on Friday, a day after authorities said they took steps to clear a backlog of matured foreign-currency forward contracts that have hampered dollar inflows.


The local currency soared 10% to 1,035 a dollar on the parallel market (from below 1300 just days ago), according to Abubakar Mohammed, chief executive officer of Forward Marketing Bureau de Change Ltd., which compiles exchange-rate data.


It was quoted at 819.10 on Binance Holdings Ltd.’s platform, a 28% gain from the previous day, as of 2:15 p.m. local time.