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Nigerian Naira appreciated 0.18% against the United States dollar to close at N314.35 at the inter-bank market, fifty- five days after the Central bank of Nigeria removed peg on the nation's currency.
At the parallel market, the naira closed flat at N422.00 against the Dollar.
Traders are optimistic that the Naira may appreciate this week, following the re-reinstatement of the eight banks previously banned by the Central Bank Nigeria (CBN) from the Forex market, and the licensing of 11 new international money transfer operators, to address the Dollar supply.
Naira Watch: Tracking Nigeria's Currency [Day 54]
Tuesday Closed: N314.75
Today Open: N314.75
High Rate: N320.25
Low: N314.75
At the parallel market, the naira closed flat at N422.00 against the Dollar.
Traders are optimistic that the Naira may appreciate this week, following the re-reinstatement of the eight banks previously banned by the Central Bank Nigeria (CBN) from the Forex market, and the licensing of 11 new international money transfer operators, to address the Dollar supply.
Naira Watch: Tracking Nigeria's Currency [Day 54]
Tuesday Closed: N314.75
Today Open: N314.75
High Rate: N320.25
Low: N314.75
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