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Naira loses points against dollar

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The Naira on Tuesday ​dropped points against the dollar in the parallel market. The Nigerian currency lost ​N1 to exchange at N36​4​ from the N36​5​ it posted on Wednesday​.

Pound Sterling and the Euro closed at N474 and N424, respectively.

Central Bank of Nigeria ​(CBN) had ​on Monday injected another $195 million into the various segments of the inter-bank Foreign Exchange (Forex) market ahead of Monetary Policy Committee, MPC, decision.

Isaac Okorafor, Acting Director in charge of Corporate Communications, said the bank offered $100 million of the sum to the wholesale interventions while $50 million was offered to the Small and Medium Enterprises, SMEs.

He said the invisible segment, comprising business/personal travel allowances, tuition and medical fees, received $45 million.

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