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US retail sales grow at slower pace on falling gas station sales
US retail sales grow at slower pace on falling gas station sales
Business and Economy
by  AFP

Retail sales in the United States grew at a slower pace in May but still came in stronger than expected, according to government data released Thursday, on the back of falling gas station sales. A nearly six percent fall in May consumer price inflation for gas would likely have dragged on gas station sales, said a report by Pantheon Macroeconomics.

Nigeria unifies currency exchange rates, floats naira
Nigeria unifies currency exchange rates, floats naira
Business and Economy
by  AFP

Nigeria's central bank has abolished the country's multiple exchange rate system and effectively floated the naira currency, the bank said, as new President Bola Ahmed Tinubu revamps the country's monetary policies. The naira will also be traded at a "willing buyer, willing seller" market rate instead of regulated rates against the US dollar and other currencies, the statement said.