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Home Economy

Naira’s black market fall a “major concern” to CBN- head of currency traders

metro by metro
February 15, 2017
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Naira hit a fresh low on the black market on Wednesday and the head of its bureau de change association urged his members to help stabilise the currency, whose continued weakness had become a “major concern” to the central bank

“The growing spikes in the parallel market to over 500/$ is becoming a major concern to the central bank … and detrimental to the cordial relationship existing between us and regulators,” Aminu Gwadabe told members.

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The naira was quoted between 507 and 510 per dollar on the black market, traders said.

 

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