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Business News Nigeria·3 min read·medium

Naira steady as external reserves rise to $51.77bn

H
Hope Moses-Ashike
Naira steady as external reserves rise to $51.77bn
✦AI Summary

The Nigerian naira remained largely stable against the dollar despite a slight depreciation in the parallel market. While official reserves have risen to $51.77 billion, trading activity in the foreign exchange market has slowed.

Why it matters

Currency stability is critical for Nigeria's economic health, affecting inflation, import costs, and the overall business environment.

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