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Nigeria Naira Gains to N1,565/$ in Parallel Market as Official Rate Weakens
The naira appreciated to N1,565/$ in the parallel market, while it weakened to N1,537/$ in the official market, narrowing the gap to N37/$. Analysts link the fluctuations to CBN policies and forex supply dynamics, as businesses and investors closely monitor the currency’s stability and future...- Nigeria News
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- 1 min read
- cbn forex policy naira exchange rate nigerian economy official exchange rate parallel market
- Category: Business
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![Today's Naira Rate [16-01-2025]: Naira Depreciates Across Markets as Parallel Rate Hits N1,670/$](/data/attachments/212/212467-7ad061fd1f2730f2dc92b5294d057d7b.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [16-01-2025]: Naira Depreciates Across Markets as Parallel Rate Hits N1,670/$
The Naira has depreciated to N1,670 per dollar in the parallel market, while its official rate stands at N1,550 per dollar. This shift reflects the widening gap between the parallel and official exchange markets, as reported by the Central Bank of Nigeria. The Naira experienced further...- Nigeria News
- Article
- 1 min read
- central bank of nigeria foreign exchange market naira depreciation official exchange rate parallel market
- Category: Business
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