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Naira gains marginally as CBN goes after vendors of new notes

The Nigerian currency on Tuesday appreciated marginally against the dollar at the Investors and Exporters window, IgbereTV reports

FMDQ securities reports that Naira at the close of business exchanged at N436.25 to a dollar representing a 0.06 percent appreciation compared to the N436.50 for which the dollar was exchanged on Monday.

The open indicative rate closed at N435.07 to the dollar on Tuesday.

An exchange rate of N437 to the dollar was the highest rate recorded within the day’s trading before it settled at N436.25.

Naira appreciation comes amid a massive jump in dollar supply to a total of 141.51 million dollars compared to the $41.02 million made available on Tuesday.

At the black market also, Naira recorded an appreciation closing at N705 to a dollar compared to the N707/$1 it exchanged a day earlier

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