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The naira climbed to N450 against a dollar on Friday, the highest in three-months on the parallel market.
This came four days after the Central Bank of Nigeria commenced the implementation of the reformed foreign exchange policy aimed at boosting dollar supply on the official market.
The naira had tumbled to 520 per dollar on Monday, but closed at 495 on Thursday.
Following the announcement of the new forex policy measures by the CBN on Monday, the naira commenced a gradual reversal of its previous losses, closing at N512 to a dollar on Tuesday.
It recorded further gain on Wednesday and Thursday, closing at N505 and N495, respectively.
Foreign exchange traders said the CBN had intervened on the official market in recent days.
On Friday, the CBN sold $1.5million on the interbank market at 305 per dollar to boost liquidity, Reuters reported, quoting traders.