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Naira Appreciates Further Against Dollar, Hits N1,300.43/$1 On Official Market, N1320/$1 At Parallel Market on Wednesday

On the forex trading window, the naira’s highest and lowest spot rate were N1,460 and N1,200 on Wednesday.

The naira continued to appreciate against the dollar at both the official window as well as the parallel market on Wednesday.

On the official Nigerian Autonomous Foreign Exchange (NAFEM) window, the naira appreciated by N82.52 to close at N1,300.43/$1, compared to N1,382.95 on Tuesday.

Following suit, the naira at the parallel market on Wednesday in a one-week continuous gain closed at N1,320/$1 compared to N1,350 it closed on Tuesday signifying N30 gain.

Daily foreign exchange turnover also increased by 69.34 percent to $416.10 million from $245.58 million on Tuesday.

Also, the highest spot rate on Wednesday was pegged at N1,460 while the lowest spot rate recorded was N1,200.

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