Nigeria naira ends at record low despite CBN intervention

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The Naira ended the week against the dollar at a record low on Friday despite central bank intervention, according to dealers.

The currency, which opened at 193.60 naira, firmed to 185.80, lifted by the intervention.

It quickly fell back to close at 193.90. The Naira closed at 192.70 on Thursday.

Currency users were holding on to cheap dollars bought at the almost-daily central bank interventions, dealers said, because they believed the naira would continue to weaken as falling oil prices hurt Nigeria's economy

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