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Nigerian Naira, Tuesday depreciated against the dollar, trading at 282.75 to a US dollar, seven official business day after the Central Bank of Nigeria removed peg on the country's currency rate.
This is coming a day after Nigeria's President, Muhammadu Buhari stated that he sees no benefit in the Central Bank of Nigeria, CBN's floating of the interbank market.
Naira traded 282.25 to a United States Dollar as of 9:30am in Lagos, nation’s commercial hub, according to data retrieved from Bloomberg terminal.
At the close of the trading period, the Naira was spotted at N282.75 to a US dollar at the inter-bank market
Related: Naira Watch: Tracking Nigeria's Currency [Day 6]
Monday - Closed: 282.25
Today Open: N282.25
High Rate: N283.50
Low: N281.01
Close: 281.76
The naira on Monday depreciated to N350 to a dollar at the parallel market.
Related: President Buhari Says CBN's New FX Policy Has no Benefits
This is coming a day after Nigeria's President, Muhammadu Buhari stated that he sees no benefit in the Central Bank of Nigeria, CBN's floating of the interbank market.
Naira traded 282.25 to a United States Dollar as of 9:30am in Lagos, nation’s commercial hub, according to data retrieved from Bloomberg terminal.
At the close of the trading period, the Naira was spotted at N282.75 to a US dollar at the inter-bank market
Related: Naira Watch: Tracking Nigeria's Currency [Day 6]
Monday - Closed: 282.25
Today Open: N282.25
High Rate: N283.50
Low: N281.01
Close: 281.76
The naira on Monday depreciated to N350 to a dollar at the parallel market.
Related: President Buhari Says CBN's New FX Policy Has no Benefits
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