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3 Reasons why the Naira gained against the US Dollar in Parallel Market
(483 reads) See also ► Naira Depreciates To N1,180/$ In Parallel Market ► Nigerian Naira Falls To Record Low Of N1,515 /$1 At The Parallel Market
This week, the Nigerian Naira gained against the US Dollar in the parallel market. Naira strengthened against the US dollar last week to a 2-month high of N535/$1 at the black market, thereby reducing the gap between the parallel and the official rates; an uptick that was driven by a significant drop in demand for FX at the black market.
The Naira/Dollar exchange rate, which had hovered around N570 to N572 to a dollar since September, gained over 600 basis poi…
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The Naira/Dollar exchange rate, which had hovered around N570 to N572 to a dollar since September, gained over 600 basis poi…
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