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Naira Falls to N506/$ on Parallel Market

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Naira Falls to N506/$ on Parallel Market

The naira hit a fresh low on the black market on Friday as it was sold at N506 per dollar, as traders tested new levels to try to tempt dollar holders to sell.

The currency has hovered near the N500 level for more than two weeks and, with demand for dollars swelling, crossed the threshold as the unapproved retail market opened on Friday.

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