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Naira drops further, exchanges at N945/$1

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The Washington-based fund explained the inadequate fiscal policies as the reason the Naira could not stabilize against the dollar two months after the Central Bank of Nigeria liberalized the forex market.

Webteam@ipledge2nigeria notes that the CBN floated the Naira on July 14; nonetheless, the exchange rate of the nation had fluctuated ever since.

The CBN has begun addressing the pent-up demand for foreign exchange, according to acting governor Folashodun Shonubi.

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