May 14, 2026

Business

Naira Exchanges For 255 Per Dollar As Trading Begins

By Farouk Mohammed
Okay News
Okay News

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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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Farouk Mohammed
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