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Thursday, 24 September 2015
NAIRA DEPRECIATES AT PARALLEL MARKET
Prior to the Sallah holidays, the Central Bank of Nigeria did not supply the market enough dollars and this led to market forces (demand & supply) taking over thus bringing down the value of the naira by N2 yesterday at the parallel market The naira traded N222/$1, against N220/$1 a few days earlier.At the interbank market however, the rate stabilised at N197/ $1. BDC operators opined that the situation may worsen during the Sallah break.
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