Naira records N100 gain, now exchanges for N840 to $1

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The Naira yesterday made a massive gain of N100, closing at N840/$ at the parallel market in Lagos,

It, however, closed lower at N850/$ in Abuja markets, representing a 9.57 per cent appreciation compared with Tuesday’s rate.

At the Investor and Exporter (I&E) window – the official market – the naira closed at N759 to the dollar, creating around N81 premium between the official and parallel markets.

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There was a $61 million turnover at the I&E window According to Bureau De Change operators in Wuse Zone 4, Abuja, the naira started the day at N940/$ and gradually increased to the current rate.

One of the traders, Ibrahim Bakori, told The Nation that he was surprised by the naira’s appreciation.

Asked what he thought was responsible, Bakori said it was “the result of the meeting between President Tinubu and the Acting CBN Governor Folashodun Shonubi”.


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