Nigeria’s naira jumped against the dollar on the parallel market and on crypto exchanges on Friday, a day after authorities said they took steps to clear a backlog of matured foreign-currency forward contracts that have hampered dollar inflows.
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Naira jumps on Nigeria streets after forex is cleared
The backlog was a significant challenge that the central bank has been “battling with in the last three and four years; there is no way this will not prop up the value of the naira.”
