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The naira is entering its third day as a floating currency after the central bank ditched a 16-month old peg. It has fallen about a third from its previous fixed rate around 197 per dollar .
NDFs, used by investors to lock in future exchange rates, indicated the naira at 290 in a month's time, converging towards the spot rate around 285 per dollar.
Three-month NDFs quoted the currency at 305, after earlier touching 298, but well off the previous day's levels .