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The Nigerian naira on Tuesday reacted to the International Monetary Fund adjustment on Nigeria's economic outlook for 2016 byd depreciating to 293.25 at the inter bank rate, nineteen official day afte rthe Apex bank remove peg on the country's rates
The Naira weakens 3.4% to N293.25 to a dollar at 3:23pm in Lagos, the commercial hub of Nigeria.
At the 10:15am, the Naira was trading at 280.39 to a US dollar at the inter-bank market as against its closing value of 299.25 last Monday
Naira Watch: Tracking Nigeria's Currency [Day 18]
Monday - Closed: 294.25
Today Open: N294.25
High Rate: N299.25
Low: N280.39
Related: IMF Downgrades Nigeria's 2016 Economic Growth to -1.8%, Forecasts Recession
The Naira weakens 3.4% to N293.25 to a dollar at 3:23pm in Lagos, the commercial hub of Nigeria.
At the 10:15am, the Naira was trading at 280.39 to a US dollar at the inter-bank market as against its closing value of 299.25 last Monday
Naira Watch: Tracking Nigeria's Currency [Day 18]
Monday - Closed: 294.25
Today Open: N294.25
High Rate: N299.25
Low: N280.39
Related: IMF Downgrades Nigeria's 2016 Economic Growth to -1.8%, Forecasts Recession