Naira Sinks To N391.9 In Parallel Market

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The ongoing efforts of Central Bank of Nigeria to boost the value of Naira suffered setback  yesterday as the local currency depreciated to N391 per dollar in the parallel market due to increased demand.



Market survey revealed that the parallel market exchange rate which closed N385 per dollar last week rose to N391 per dollar yesterday.

Our source gathered that market operators expressed optimism that the Naira will appreciate today once the Central Bank of Nigeria (CBN) delivers the $20,000 bi-weekly sale to bureaux de change today.

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