Naira exchanges for N481/$ at parallel market

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The naira on Monday exchanged for N481/$ at the parallel market.

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At the Exporter & Importer forex window, the exchange rate hit a high of N412.

The Central Bank of Nigeria recently disclosed that the naira depreciated at the official market to N410 against the dollar.

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“In order to adjust for the decrease in supply of foreign exchange, the naira depreciated at the official window from N305/$ to N360/$ and now hovers around N410/$,” it stated.

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