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Nigerian naira on Friday closed flat against the United States dollar at 391 and crashed to 500 from 495 against the pound sterling at the parallel market.
The currency also depreciated by 2 naira to close at 422 against the Euro.
Trading at the interbank market saw the Naira closing at N305.70 to the Dollar.
This is coming as Governor of the Central Bank of Nigeria, Godwin Emefiele, briefed President Muhammadu Buhari on the state of the Economy on Wednesday.
Addressing State House Correspondents after the meeting, Emefiele said he briefed President Buhari on activities of the CBN
"Basically, as it is expected, what we normally do is from time to time to brief the President about activities about the Central Bank of Nigeria, particularly at this time as it relates to the efforts that the central bank is doing to stabilise the forex market.
"And we briefed him regarding the activities so far and he was very delighted to hear that the market is stabilising at the level that it is right now, and I am saying the parallel market which currently stabilises at between 380 and 385.”
The currency also depreciated by 2 naira to close at 422 against the Euro.
Trading at the interbank market saw the Naira closing at N305.70 to the Dollar.
This is coming as Governor of the Central Bank of Nigeria, Godwin Emefiele, briefed President Muhammadu Buhari on the state of the Economy on Wednesday.
Addressing State House Correspondents after the meeting, Emefiele said he briefed President Buhari on activities of the CBN
"Basically, as it is expected, what we normally do is from time to time to brief the President about activities about the Central Bank of Nigeria, particularly at this time as it relates to the efforts that the central bank is doing to stabilise the forex market.
"And we briefed him regarding the activities so far and he was very delighted to hear that the market is stabilising at the level that it is right now, and I am saying the parallel market which currently stabilises at between 380 and 385.”
