Nigeria’s naira firms on parallel market as liquidity rise

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LAGOS – Nigeria’s naira firmed more 6 percent on parallel market on Tuesday as individuals had stockpiled dollars to hedge against political risk because of general elections sold their holdings, black market dealers said.

The naira NGN-D1 firmed to 197 against the dollar on the parallel market operated by bureau de change agents, the same level as the interbank market, from 210 naira on Thursday.

(Reporting by Chijioke Ohuocha; Editing James Macharia)(Reuters)
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