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Nigerian Currency Plunges After Central Bank Rate Hike

Moussa by Moussa
September 25, 2024
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Nigerian Currency Plunges After Central Bank Rate Hike
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Nigerian Currency Plunges After Central Bank Rate HikeThe Nigerian Naira weakened significantly against the U.S. dollar following the Central Bank of Nigeria’s (CBN) decision to hike interest rates for the fifth time this year. The naira dropped to NGN1,658 per dollar on the official foreign exchange market after the CBN increased the benchmark lending rate by 50 basis points. On the parallel […]



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