The naira rebounded against the United States dollar at the parallel market on Wednesday, closing at 850/dollar.
The development followed the announcement by the Central Bank of Nigeria (CBN) that it would intervene in the foreign exchange market.
The naira fell to 950/dollar at the parallel market on Monday. It gained further and closed at 915/dollars on Tuesday.
The recovery continued up till Wednesday when it traded for 830/$ and 850/$.
Bureau the change operators said the demand was lower compared to last week.
At the Investor & Exporter forex window, trading commenced at N781.66/$ and reached a high of N 799.90/$ before closing at N 759.86/$ on Wednesday; it closed at N781.30/$ on Tuesday.
