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Naira crashes against dollar

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The naira on Monday crashed further against the dollar at the parallel market.

The currency exchanged at N367 to the dollar.

The naira lost one point from N366 posted on Friday, while the Pound Sterling and the Euro closed at N476 and N432.

At the Bureau De Change segment, the naira was sold at N363 to the dollar, while the Pound Sterling and the Euro closed at N476 and N432, respectively.

The naira, however, appreciated at the investors’ window as it closed at 362.50, stronger than N365.68, its opening rate.

The naira had rallied around N363 to the dollar for about two weeks until market forces dragged it into depreciation.

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