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Naira moves up; exchanges for 793.70/$

The naira appreciated against the United States dollar on the Investor & Exporter forex window on Wednesday, July 19, closing at 793.70/$. According to figures obtained from the FMDQ, the trading, which commenced at 778.07/$ on Wednesday reached a high of 853/$ before closing at 793.70/$. The trading also recorded a turnover of $87.19m as of the end of trading.

Bureau de Change operators bought and sold the dollar at N820 and N825 at the parallel market.

The Central Bank of Nigeria, in recent weeks, directed Deposit Money Banks to remove the rate cap on the naira at the I&E window to allow for a free float of the national currency against the dollar and other global currencies.

Prevail Inegbenose

Prevail Inegbenose is the Chief Executive Officer (CEO), Spark Media & Entertainment Ventures, the publisher of Spark News Daily - Nigeria's most sought-after online news platform - Politics, Sport & Entertainment. Prevail Inegbenose hails from Irrua, Esan Central LGA of Edo State. He studied Mass Communication from the prestigious Auchi Polytechnic Auchi and graduated in 2007. Prevail Inegbenose is a veteran journalist with 15 years of active and practical journalism. He has authored so many write-ups, a lot of which had been published in the newspapers, magazines and social media. Hence Prevail Inegbenose is a Journalist, Writer, Researcher, Author, Communication Expert and Consultant, Social Media Influencer, Project Management Expert, Peace Ambassador and Advocate of Good Governance and Better Society. He's a Pastor, in fact the Lead Pastor, House of God Int'l - Rest Tabernacle, Abuja Nigeria.

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