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Naira rises to N375/$ in parallel market

By Babajide Komolafe

The naira yesterday rose to N375 per dollar in the parallel market in response to increased dollar supply and decline in demand.

Vanguard survey reveals that the parallel market exchange rate which had been stable at N385 per dollar since last week yesterday dropped to N375 per dollar, due to inflow from CBN dollar sale to bureaux de change.

Vanguard investigations also reveal decline in demand for dollars resulting into lull in market activities.



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