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The Naira slightly appreciated against the US dollar in the official foreign exchange market at the end of January 2024 amid the Central Bank of Nigeria’s recent intervention to curb its free fall.
Data from FMDQ on Wednesday showed that the Naira marginally appreciated N1,455.59 per US dollar from N1,482.57 on Tuesday.
On a day-to-day level, the Naira appreciated by N26.98 gain or a 1.85 per cent increase, to close at N1,455.59 from N1,482.57 per Dollar on Tuesday.
Meanwhile, the black market remained unchanged at N1,470 per US Dollar at the close of Wednesday.
However, with Naira ending at N1,455.59 per US dollar, the nation’s currency recorded a 37.6 per cent depreciation in January 2024.
The Houthi movement in Yemen says it has struck a US merchant ship in the Red Sea in a fresh attack targeting commercial shipping. It named the ship as the KOI, which it said was US-operated. But industry journal Trade Winds quoted a source familiar with the situation as saying there was no such attack. Maritime security firm Ambrey said a vessel operating south of Yemen's port of Aden had […]
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