Sunday, July 14, 2024
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Naira Jumps in Parallel Market After Central Bank Warns Traders – Bloomberg

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A customer counts Naira banknotes at a market in Lagos, Nigeria.
The naira jumped in Nigeria’s parallel market on Wednesday as local traders responded to a warning from the central bank against currency speculation.
The naira’s unofficial rate was 810, representing a 15% increase in the Nigerian currency from Monday’s level of 950, according to Abubakar Mohammed, chief executive of Forward Marketing Bureau de Change Ltd. in Lagos.

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