Domestic Commodity Prices Remain Fairly Stable

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Domestic commodity prices have remained fairly stable this week while the naira has depreciated in the parallel market to N470/$.

Summer season demand coupled with thinning forex liquidity is crippling the renewed strength of the naira.

The good news is that the forwards and futures markets have been launched. Although the market remains inactive in the short term, it is expected that the market will soon find equilibrium.

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