Naira Nosedives: Backlog Bites as Dollar Demand Swells, Reaching N900.96 Low
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The Nigerian naira continues its descent, plunging to a fresh low of N900.96 against the dollar at the official market on Friday, January 26th, 2024. This latest depreciation is fueled by a growing backlog of unfilled foreign exchange (FX) demand from various sectors of the Nigerian economy.
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