Nigeria naira firms above four-month high on black market

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LAGOS Feb 28  – The Nigerian naira gained 2.2 percent to 450 per dollar on the black market on Tuesday, a more than four-month high, a day after the central bank intervened by selling dollars on the interbank market, traders said.

On Monday, the central bank sold $80 million to retail customers and another $100 million in currency forwards to increase dollar liquidity and support the naira.

 

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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