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Naira gains at official market

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The currency remained stable at the parallel market.

The Naira gained marginally against the U.S dollar at the official market as forex turnover clinched a slight boost at the trading segment on Tuesday.where forex is officially traded, the local unit closed at N411.50 per $1, this translates to a N0.17 or 0.04 per cent appreciation from the N411.67 rate it traded in the previous session on Monday.

It staged an intraday high of N400.00 and a low of N412.85 during the trading session before settling at N411.50 at the close of business on Tuesday. This occurred as the market forex supply rose by 4.00 with $113.17 million posted as against the $109.03 million recorded in the past two consecutive sessions .

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