Naira falls 0.22 percent on low dollar flow

The naira fell 0.22 percent to 177.40 against the dollar on Thursday, trading lower than central bank’s target band of 5 percent plus of minus 168, as dollar flow was not enough to meet demand, dealers said.

The naira has been volatile and under pressure since the central bank announced a devaluation on Tuesday, although Wednesday’s trading saw it rise on a surge in dollar supply.

Source : BusinessDay

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