FLASH: Naira dramatically recovers to N405/$1

The Nigerian Naira dramatically recovered on Wednesday to 405 per dollar, less than 24 hours after the Central Bank of Nigeria (CBN) monetary policy committee (MPC) meeting.

In Abuja, the Naira is currently trading between 405 to 410 per dollar, while the British pound is going for 520 — all at the parallel market.

For Lagos, Nigeria’s commercial capital, traders are still selling at 415 per dollar, and buying at 410.

More to follow...

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