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Nigerian Naira appreciated 1.69 percent against United States dollar sixty five business days after the Central Bank of Nigeria removed peg on the Nation's currency.
The currency closed 307.79 naira to a United States dollar at the Inter-bank market.
At the parallel market, the currency hit a new record low of 436 on Thursday and recovered slightly to 435 on Friday as dollar shortages on the official market persist, funneling importers to the unofficial market, amidst declining currency reserves in Africa’s biggest economy.
Naira Watch: Tracking Nigeria's Currency [Day 64]
Thursday Closed: N313.08
Today Open: N3i5.25.
High Rate: N315.75
Low: N314.25
The currency closed 307.79 naira to a United States dollar at the Inter-bank market.
At the parallel market, the currency hit a new record low of 436 on Thursday and recovered slightly to 435 on Friday as dollar shortages on the official market persist, funneling importers to the unofficial market, amidst declining currency reserves in Africa’s biggest economy.
Naira Watch: Tracking Nigeria's Currency [Day 64]
Thursday Closed: N313.08
Today Open: N3i5.25.
High Rate: N315.75
Low: N314.25