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Ayomide Fiyinfunoluwa
Ayomide Fiyinfunoluwa
Nigeria Records $547 Million Decline in External Reserves Amid FX Pressure
Naira Hits N1,485 in Parallel Market as Gap with Official Rate Widens
The naira weakened to N1,485 per dollar in Nigeria’s parallel market, widening the gap with the official rate of N1,454. Analysts warn of rising demand pressures and FX supply constraints, with implications for inflation, imports, and economic stability.