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The naira on Monday appreciated slightly to 317.75 to the United States Dollar at the inter-bank market, thirty-three days after the Central bank of Nigeria removed peg on the currency rate.
The naira on Friday down 1.22% to N318.91k to close trading at the inter-bank market, while at the parallel market, the currency retreated from N400 to a dollar on Thursday to N395 to dollar.
Analysts believed that the recent depreciation to huge demand for forex by holidaymakers seeking to travel abroad.
Naira Watch: Tracking Nigeria's Currency [Day 32]
Friday - Closed: 318.91
Today Open: N319.25
High Rate: N320.75
Low: N310.75
Related: 14 Airlines Shut Down Operation Due to Buhari's Inconsistent Policies
The naira on Friday down 1.22% to N318.91k to close trading at the inter-bank market, while at the parallel market, the currency retreated from N400 to a dollar on Thursday to N395 to dollar.
Analysts believed that the recent depreciation to huge demand for forex by holidaymakers seeking to travel abroad.
Naira Watch: Tracking Nigeria's Currency [Day 32]
Friday - Closed: 318.91
Today Open: N319.25
High Rate: N320.75
Low: N310.75
Related: 14 Airlines Shut Down Operation Due to Buhari's Inconsistent Policies