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The naira dropped marginally towards the greenback within the international change market, indicating a short respite after days of decline following the USA President Donald Trump’s administration’s tariff announcement.
The Central Financial institution of Nigeria’s knowledge confirmed that the naira strengthened barely to N1,611.55 per greenback on Tuesday from N1,612.23 traded on Monday.
This confirmed that the naira gained 0.68 on a day-to-day foundation after shedding N45.21 on Monday.
In the meantime, on the black market, the naira remained secure at N1,575 per greenback on Tuesday, the identical change price as on Monday.
DAILY POST experiences that since Trump’s tariff announcement on April 2, 2025, international shares have been in bearish territory. Notably, most US, Asian, and European inventory markets recorded additional declines on Monday.
In the meantime, as an intervention, Nigeria’s apex financial institution bought $197 million to official FX sellers to defend the naira towards the greenback final Friday.
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