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Nigerian Central Bank Devalues Naira by 5.3% at Currency Auction

  • Weakening comes amid plans to unify multiple exchange rates
  • Investors, IMF have urged single rate to improve transparency
Nigerian Markets As Government Presents Ambitious Spending Plan
Photographer: KC Nwakalor/Bloomberg

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Nigeria’s central bank devalued the naira at one of its currency auctions, according to people familiar with the matter.