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Naira Extends Gains Against British Pound at N1,767/£

The Nigerian Naira continued its bullish trend against the British Pound, closing at N1,767/£ in the official market on Wednesday. This strengthening is attributed to improved economic fundamentals and sustained efforts by the Central Bank of Nigeria to stabilize the foreign exchange market. Market analysts point to tightening monetary policy and higher crude oil prices as key contributors to the Naira’s resilience. Meanwhile, global currency markets are navigating the impact of the Federal Reserve’s hawkish stance and rising US Treasury yields.

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