The naira remained stable in the black market on Wednesday despite concerns that the recent oil pipeline explosion could impact the exchange rate.
In the parallel market, the naira saw a slight depreciation of about N1, with the dollar quoted at an average rate of N1,579 on Wednesday compared to N1,580 on Tuesday. In certain areas of Lagos, the dollar was exchanged at N1,575 per dollar, while some traders offered it at rates of N1,577 and N1,580.
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