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Naira weakens against dollar, other currencies
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Naira weakens against dollar, other currencies

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The naira weakens to 410 per dollar against the United States currency on Tuesday, down from 405 to a dollar recorded on Monday.This was despite the Central Bank of Nigeria’s attempt to improve dollar supply and prop up the local unit.

The CBN had on Monday auctioned $100m in forwards to be settled between one week and 30 days—shortening the settlement to inject liquidity.

On the official market, the naira closed at 306 to a dollar.

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