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Naira Appreciates to N1,585/$ in Parallel Market

The Naira has appreciated to N1,585 against the US dollar in the parallel market, reflecting a positive shift in Nigeria’s currency exchange dynamics. This improvement is attributed to increased foreign investments and government efforts to stabilize the economy. The strengthening of the Naira offers some relief to businesses and consumers facing high import costs. However, experts caution that sustainable measures are needed to maintain this trend and bridge the gap between the official and parallel market exchange rates.

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