Naira Appreciates 6.48% to 305 at Interbank Market

Farouk Mohammed
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Farouk Mohammed
ByFarouk Mohammed
Publisher
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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Naira

The Nigerian Naira on Monday bounced back by appreciating 7.93% to 305.22 against the United States Dollar at inter bank market.

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The currency on Friday depreciated to 329 per United States dollar at the official market rate from N304.70 its recorded on Thursday.

At the parallel market, the naira remained steady at 470 to a dollar while Pound Sterling gained 10 naira to N560 and the Euro closed flat at N510.

Traders are optimistic over the commencement of Travelex and First Bank of Nigeria Limited sale of foreign exchange to Bureau De Change operators some weeks ago following the approval by the Central Bank of Nigeria.

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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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