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NIGERIA FOREIGN EXCHANGE
Data on the CBN website shows that the Naira opened the week at N1,491.49/$1 on Monday before slipping slightly to N1,493.2/$1 on Tuesday, a movement that coincided with the conclusion of the 302nd Monetary Policy Committee (MPC) meeting.
In a move aimed at rectifying the persisting distortions in the retail segment of Nigeria's foreign exchange market, the Central Bank of Nigeria (CBN) has taken a decisive step to bridge the widening gap in the exchange rate.