The naira extended its losses against the United States’ dollar on Monday at the parallel market, falling to 265 from 263 on Sunday.
Frayokit News gathered that the Central Bank
of Nigeria’s intervention on Wednesday is expected to lift the currency at the unofficial market.
The foreign reserves declined by 15.61 per cent year-on-year to $29.13bn by December 29, from $34.52bn a year ago, data from the central bank showed.
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