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Nigeria’s naira fell 1.22 percent against the dollar on the unofficial market on Thursday as nearly half of bureaux de change operators failed to get dollar supply at a central bank sale due to incomplete documentation, traders said.
About 1,599 bureaux de change agents out of 2,818 operators were denied access to participate in the forex sale on Wednesday, limiting dollar supply, Aminu Gwadabe, president of Nigeria’s bureau de change association, told Reuters.
The naira was quoted at 246 against the dollar on the unofficial market, weaker than 243 the previous day.
Source: Reuters
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