Naira closes week with 0.42% drop to dollar

Hope Ashike Jan 24, 2021

Naira and dollar — Nigeria’s currency on Thursday depreciated further by 0.54 percent to close at N397.63k per dollar

The foreign exchange (FX) market closed the week with Nigeria’s currency dropping by 0.42 percent as the dollar was quoted at N477 on Friday compared to N475, quoted last week on the black market. Naira depreciation was as a result of strong demand for foreign exchange amid a shortage of dollars. At the Bureau De…

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