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Naira sees sharp fall after CBN interest rate hike

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Naira plummeted to N735/$1 at the black market on Thursday, a 2.8 per cent devaluation from N715.00 it exchanged hands with the...

made its biggest interest rate hike yet in a bid to check inflation and defend the currency.

“I don’t know where the country is heading to. With the way things are going we are going to exchange the dollar at N1000.00 per dollar before the week runs out. There is high demand for dollars but the banks are not selling to us,” a dealer at Udi Street market lamented.

 

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Naira falls to N737/$ at parallel market as dollar shortage persists | TheCableThe naira, on Thursday, depreciated further against the dollar at the parallel section of the foreign exchange market. FG are not helping the citizenry. Hmmm God help us all Govt of Buhari doing wonders
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