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Speculators lose big on dollar’s sudden crash to N480

Nigeria’s currency on Thursday strengthened by 4. 95 percent as the dollar which had risen to N505 suddenly crashed to N480 on the black market, putting speculators in a loss position. Read Also: Naira touches four-year low as Nigerians buy Dollar for storage This implies that for every dollar speculator bought at N505 on Wednesday they…

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