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Topic Summary

Posted by: Mr. Babatunde
« on: February 06, 2016, 08:24:29 PM »



The naira traded at N310 to a dollar at the parallel market on Friday, amid expectations of an intervention by the Central Bank of Nigeria (CBN).

The Nigerian currency traded at N307 at the close of market on Thursday, showing a depreciation of one per cent.

However, it maintained N197 to the dollar at the official CBN’s window.

Traders at the market blamed the further fall in value, in spite of insinuations of an intervention at the foreign exchange market by the CBN, on demand for the greenback.
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