As reported by Newsmen, the naira experienced a slight appreciation against the United States dollar, reaching N1,609 on Wednesday at the official market, compared to the previous day's N1,615.94, marking a 0.37% increase or N6.
This modest improvement follows a series of foreign exchange guidelines recently issued by the Central Bank of Nigeria. Meanwhile, on Tuesday, the Monetary Policy Committee raised the benchmark interest rate, known as the Monetary Policy Rate, by 400 basis points to 22.75 percent, up from 18.75 percent in July 2023.
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