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Naira has been rallying against the dollar in the last one week at the parallel market. They believe that until the CBN devalues or makes a clear switch to a free-floating currency, the country will struggle to lure back foreign investors. That narrowed the gap with the official rate, which the central bank has kept at around since August, to the smallest since September. Even after the rebound, the currency remains 30 per cent weaker on the black market than on the official one. Naira forward contracts maturing in three months trade at per dollar, suggesting the currency will drop 11 per cent in the period. Naira six-month contracts are quoted at