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Naira falls at official market

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The currency rate remained unchanged on the black market.

Nigeria’s naira fell against the U.S. dollar at the I&E window of the foreign exchange market on Friday, data posted on theHowever, the currency rate remained unchanged on the black market.According to data posted on the FMDQ Security Exchange where forex is officially traded, the naira closed at N411.00 at the trading session of the NAFEX window.Thursday’s performance represents a 0.5 devaluation from N410.50, the rate at which the naira closed on Thursday.

Meanwhile, the local unit remained unchanged against the U.S. dollar at the unofficial market on Friday, data posted on abokiFX.com, a website that collates parallel market rates in Lagos showed.

 

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