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FX Market
The naira weakened against the US dollar by N7 in the Nigerian foreign exchange market
The naira closed at N1,353.9741 per US dollar in Nigeria’s foreign exchange market on Friday, appreciating from the previous quote of N1,355.8855 as international payment pressures eased.
The naira depreciated strongly against the US dollar in the Nigerian foreign exchange market (NFEM) on Wednesday as pressure on the local currency deepened.
The naira declined against the US dollar as significant demand for foreign payments slowed the local currency momentum at the Nigerian foreign exchange market (NFEM).
The Nigerian naira exchange rate per dollar climbed to N1,348 at the official market amidst rising external reserves, and inflows from offshore investors with interest in elevated yields in the fixed income market.,
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