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The Nigerian Naira on Wednesday strengthened against the dollar on the parallel market by 0.4 percent, The News Agency of Nigeria reports.
The naira gained N1, an appreciation of 0.4 per cent, to exchange at N226 to the dollar as against its previous value of N227.
However, at the official inter-bank window, the naira continued to exchange at N197 to the dollar just as available apex bank’s record puts the price of crude oil at 36.09 dollars.
Traders at the parallel market said the appreciation was fueled by currency speculators, who envisaged that the CBN might come up with policies that would affect them negatively in the New Year.
Posted on December, 30 2015
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