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NAIRA FALLS TO #495 PER DOLLAR AS FOREX SCARCITY LINGERS.

Author: Nomso Obiajuru:
The Naira dropped #3 to trade at #495 to the dollar at the parallel market from #492/$1 rate it was on Wednesday, January 11.

Recall that at the twilight of 2016, speculators forecasted that the Naira would exchange at #500 to a dollar.
The local currency also closed at #597 and #515 against the Pound Sterling and the Euro respectively.


At the official interbank window, the Naira closed at #305 to a dollar.

Trading at Bureau De Change (BDC) window saw the Naira close at #399 to a dollar, while the Pound Sterling and the Euro exchanged at #600 and #510, respectively.

Meanwhile, Nigeria will get out of recession, and grow its gross domestic product (GDP) by 1% in 2017, according to a global economic report by the World Bank.

The World Bank said in a report released on Tuesday, January 10, that the global economy will accelerate moderately to 2.7% in 2017
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