Naira gains against Dollar, exchanges at 790/$1 in official forex market

However,

reported that Naira had continued its free-fall at the parallel market, exchanging between N1060 and 1100 against a Dollar. This indicates that the disparity between the official and parallel market is widening drastically, worsening the forex crisis. The development is amid a move by the Central Bank of Nigeria to stabilize the country's forex market by lifting the restrictions on rice, cement and 41 other items.

recalls that since the floating of Naira on June 14 at the forex market, the country's currency had continued to depreciate.

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Naira Falls To Lowest N848/$ At Official MarketNigeria’s naira closed trading at a record low of N848 per dollar on the official market yesterday, according to data from FMDQ, as dollar shortages persist.
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Forex crisis defies CBN reforms as Naira hits record low of N848/$ on official marketNigeria's forex crisis has defied the Central Bank of Nigeria's recent reforms as the Naira closed trading at a record low of N848.12 per dollar on the official market on Tuesday. FMDQ's official data on its website said that the country's currency continued to depreciate as dollar shortages persisted. The N848.
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