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Naira Crashes Despite Injection By CBN, Weakened To N370/$1

The steady appreciation of the Naira at the parallel market on Tuesday, June 13, was halted despite the Central Bank of Nigeria (CBN) injecting $153.5 million into the interbank foreign exchange market.

According to Look Naija findings, the local currency weakened to N370/$1, dropping a massive eight points from yesterday’s rate.

Recall that the Nigeria’s currency had last week hit its best rate in 2017, trading at N362/$1, a rate it maintained until today, June 13.

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