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Naira Exchanges For 255 Per Dollar As Trading Begins

Farouk Mohammed
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Farouk Mohammed
ByFarouk Mohammed
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Farouk Mohammed is the Publisher and Lead Editor of Okay News, an international digital news platform delivering verified reporting across technology, global affairs, business, innovation, and...
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Nigeria’s naira devalued 22.7 percent against the U.S. dollar on Monday as interbank market trading began following the removal of a central bank currency peg, Thomson Reuters data showed.

The naira traded at 255 against the dollar on Monday, weakening from the 197 peg maintained by the central bank for the last 16 months.

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ByFarouk Mohammed
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Farouk Mohammed is the Publisher and Lead Editor of Okay News, an international digital news platform delivering verified reporting across technology, global affairs, business, innovation, and development. He has over a decade of experience in journalism and international media, with a strong focus on geopolitics, conflict reporting, human rights, and the global digital economy.
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