Naira returns to depreciation despite surge in Nigeria’s external reserves

The naira has returned to depreciation against the dollar in the foreign exchange market despite the increase in Nigeria’s external reserves. FMDQ data showed that the naira depreciated to N1523.85 against the dollar on Monday from N1509.67 traded last Friday. This represents N14.18 loss against the dollar compared to the N1509.67 traded on Friday. Similarly, [...]Naira returns to depreciation despite surge in Nigeria’s external reserves

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