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Naira

Central Bank of Nigeria, BDC Monthly Exchange Rates of Naira From 2004 to May, 2021

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2 years ago

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Godwin Emefiele and President Muhammadu Buhari - Investors King

Below is the complete list of the Central Bank of Nigeria and the Bureau De Change monthly average exchange rates of the Nigerian Naira since President Muhammadu Buhari became president of Nigeria.

The currency has plunged by over 200 percent from N137.76, N136.08 and N147.65 it traded to a United States Dollar at the Inter-bank Foreign Exchange Market (IFEM), Dutch Auction System (DAS) and Bureau de Change (BDC) to almost N500 by May 2021 as shown below.

Against the British Pound and the Euro, the Naira has declined by almost 300 percent from N247.93 and N171.67 the central bank exchanged the two in January 2014 to N561.26 and N484.06, respectively.

President Buhari-led’s administration has devalued the naira several in a move to better manage the embattled currency and plug drastic falling in economic activities and intermittent recession that have seen the nation’s unemployment hitting 33.33 percent and inflation at over 17 percent in May 2021.

Experts expect that naira to plunge further against its global counterparts given Nigeria’s weak macroeconomic fundamentals and structural problems.

Monthly Average Exchange Rates of the Naira

Year Month DAS (USD) IFEM (USD) BDC (USD) GB Pounds EURO CFA Franc
2004 1 136.08 137.76 147.65 247.93 171.67 0.16
2004 2 135.16 136.44 142.95 252.78 171.09 0.2
2004 3 134.47 134.8 139.92 245.47 164.88 0.25
2004 4 133.51 137.23 138.85 240.26 159.87 0.24
2004 5 133.01 134.81 139.64 237.8 159.75 0.24
2004 6 132.75 133.54 140 242.54 161.53 0.24
2004 7 132.8 134.39 139.84 244.54 162.85 0.25
2004 8 132.83 133.23 140.33 241.61 161.66 0.25
2004 9 132.84 133.77 141.08 237.92 162.06 0.25
2004 10 132.86 133.76 140.54 240.05 165.91 0.25
2004 11 132.87 133.15 140.69 247.14 172.67 0.26
2004 12 132.86 133.14 138.71 256.48 177.95 0.27
2005 1 132.86 133.11 139.8 249.54 174.13 0.27
2005 2 132.85 133.15 139.93 250.51 173.05 0.26
2005 3 132.85 133.09 139.73 254.4 176.26 0.27
2005 4 132.85 133.06 141.77 251.48 171.8 0.26
2005 5 132.82 133.37 141.21 246.4 168.52 0.26
2005 6 132.87 134.35 141.85 241.77 161.67 0.25
2005 7 132.87 135.35 143.94 232.38 160 0.24
2005 8 133.23 135.94 145.82 237.55 162.81 0.25
2005 9 130.81 132.55 145.8 234.2 158.66 0.24
2005 10 130.84 131.09 144.99 228.38 155.75 0.24
2005 11 130.63 130.8 143.94 214.58 144.97 0.23
2005 12 130.29 130.08 141.93 225.33 153.07 0.23
2006 1 130.29 129.93 144.09 227.93 156.43 0.24
2006 2 129.59 129.33 145.47 224.4 153.31 0.23
2006 3 128.7 128.68 148.46 222.72 153.18 0.23
2006 4 128.47 128.58 147.85 224.89 156.24 0.24
2006 5 128.45 128.57 142.33 237.23 162.31 0.25
2006 6 128.45 128.5 136.82 234.41 160.95 0.24
2006 7 128.38 128.43 130.12 234.47 161.29 0.24
2006 8 128.33 128.43 130.46 240.73 162.9 0.25
2006 9 128.29 128.39 130.21 238.67 161.56 0.25
2006 10 128.28 128.42 130.3 238.67 161.56 0.25
2006 11 128.29 128.42 129.82 242.67 155.1 0.25
2006 12 128.29 128.39 129.32 249.37 167.82 0.24
2007 1 128.28 128.37 130.07 248.89 164.87 0.25
2007 2 128.27 128.33 130 248.55 166 0.24
2007 3 128.15 128.25 129.34 247.08 168.02 0.25
2007 4 127.98 128.25 129 252.28 171.45 0.26
2007 5 127.56 127.62 129.16 237.23 162.31 0.25
2007 6 127.41 127.5 128.33 250.57 169.31 0.26
2007 7 127.19 127.2 127.52 256.13 172.92 0.26
2007 8 126.68 126.57 127.43 251.87 170.71 0.26
2007 9 126.03 125.74 126.5 251.85 170.69 0.26
2007 10 124.28 123.56 126.5 251.97 175.36 0.27
2007 11 120.51 119.45 123.8 242.73 173.4 0.26
2007 12 118.21 118.11 121.07 236.79 170.61 0.26
2008 1 117.98 117.72 120.8 230.09 171.88 0.26
2008 2 118.21 117.5 119.57 229.26 172.3 0.26
2008 3 117.92 116.79 119 240.26 181.11 0.27
2008 4 117.87 117.47 118.95 231.24 183.74 0.28
2008 5 117.83 117.79 118.8 229.2 181.52 0.28
2008 6 117.81 117.74 118.7 229.18 181.45 0.27
2008 7 117.77 117.71 119 231.94 183.95 0.28
2008 8 117.74 117.69 119 220.26 174.61 0.27
2008 9 117.73 117.62 119 208.09 169.13 0.26
2008 10 117.72 117.72 119 196.9 154.82 0.24
2008 11 117.74 117.88 119.1 179.07 148.53 0.23
2008 12 126.48 134.33 137.65 192 174.72 0.26
2009 1 145.78 146.59 149.88 206.19 189.34 0.29
2009 2 147.14 149.12 156.93 210.17 186.48 0.28
2009 3 147.72 0 174.32 207.92 191.33 0.29
2009 4 147.23 0 180.27 214.27 192.23 0.29
2009 5 147.84 180.63 225.42 199.6 0.3
2009 6 148.2 148.54 166.14 239.91 205.65 0.31
2009 7 148.59 149.88 155.13 240.66 207.36 0.32
2009 8 151.86 155.23 158.95 248.6 214.48 0.36
2009 9 152.3 153.25 158 247.02 219.02 0.33
2009 10 149.36 150.22 153.05 239.53 219.35 0.33
2009 11 150.85 151.03 152.95 248.34 223.07 0.34
2009 12 149.69 149.8 153.48 240.98 216.82 0.33
2010 1 149.78 150.33 153.55 239.96 211.72 0.32
2010 2 150.22 150.97 152.08 232.66 203.67 0.31
2010 3 149.83 150.08 151.85 223.26 201.38 0.31
2010 4 149.89 150.38 152 217.36 186.52 0.28
2010 5 150.31 151.49 153.26 219.42 186.52 0.28
2010 6 150.19 151.27 153.87 219.42 181.65 0.28
2010 7 150.1 150.27 152.41 227.02 189.83 0.29
2010 8 150.27 150.7 152.23 232.94 191.9 0.29
2010 9 151.03 152.62 153.85 232.86 195.91 0.3
2010 10 151.25 151.78 153.98 237.51 208.34 0.32
2010 11 150.22 150.55 153.13 237.62 203.64 0.31
2010 12 150.48 152.63 154.57 232.78 197.27 0.3
2011 1 151.62 152.57 156.08 236.92 200.57 0.3
2011 2 151.96 152.75 155.11 242.81 205.58 0.31
2011 3 152.54 155.21 157.09 243.95 211.17 0.32
2011 4 153.92 154.6 157.05 249.16 220.08 0.33
2011 5 154.8 156.17 158.05 250.11 219.66 0.33
2011 6 154.46 155.66 158.32 248.14 220.22 0.34
2011 7 151.82 152.6 163.71 242.51 216.08 0.33
2011 8 152.72 152.36 163.14 247.53 216.79 0.33
2011 9 155.26 156.7 158.26 224.88 211.73 0.32
2011 10 153.26 159.82 161.32 239.15 208.22 0.32
2011 11 155.71 158.76 160.35 243.45 208.78 0.32
2011 12 158.23 162.27 163.35 244.53 206.52 0.31
2012 1 158.38 161.31 164.62 243.27 202.52 0.31
2012 2 157.87 158.59 160.85 246.98 206.71 0.31
2012 3 157.59 157.72 159.41 246.92 206.05 0.31
2012 4 157.33 157.44 159.37 249.34 205 0.31
2012 5 157.28 157.46 159.67 248.03 199.42 0.3
2012 6 157.44 162.33 163.43 242.42 193.92 0.3
2012 7 157.43 161.33 163.32 243.06 191.56 0.29
2012 8 157.38 158.97 162.24 244.87 193.28 0.29
2012 9 157.34 157.78 159.8 250.86 200.27 0.3
2012 10 157.31 157.24 159 250.45 202.21 0.31
2012 11 157.31 157.58 159.32 248.69 199.91 0.3
2012 12 157.32 157.33 159.26 251.56 204.3 0.31
2013 1 157.3 156.96 159.12 248.72 206.97 0.31
2013 2 157.3 157.52 158.7 241.1 208.16 0.32
2013 3 157.31 158.63 160 234.75 201.95 0.31
2013 4 157.31 158.2 159.81 238.49 202.88 0.31
2013 5 157.3 158.02 159.57 238.34 202.34 0.31
2013 6 157.31 160.02 160.98 241.11 205.47 0.31
2013 7 157.32 161.12 162.43 235.64 203.12 0.3
2013 8 157.31 161.15 162.28 241.35 207.23 0.31
2013 9 157.32 161.96 163.14 251.43 210.2 0.32
2013 10 157.42 159.83 165 250.86 212.74 0.32
2013 11 157.27 158.79 167.14 250.76 210.17 0.32
2013 12 157.27 159.05 171.4 255.13 213.41 0.32
2014 1 157.29 160.23 171.71 256.59 212.1 0.32
2014 2 157.31 163.62 169.45 257.81 212.72 0.32
2014 3 157.3 164.61 171.5 258.95 215.39 0.33
2014 4 157.29 162.19 170.25 260.67 215.14 0.33
2014 5 157.29 161.86 166.85 262.41 213.98 0.33
2014 6 157.29 162.82 167.17 263.29 211.68 0.32
2014 7 157.29 162.25 167.71 265.93 211.24 0.32
2014 8 157.29 161.99 170.36 260.12 207.41 0.32
2014 9 157.3 162.93 168.64 254.06 201 0.31
2014 10 157.31 164.64 169.43 250.27 197.63 0.3
2014 11 160 171.1 175.85 249.96 197.6 0.3
2014 12 169.68 180.33 188.45 262.86 207.16 0.32
2015 1 169.68 181.78 196.13 254.39 194.85 0.3
2015 2 169.68 194.48 213.03 274.79 204.78 0.31
2015 3 197.07 222.93 295.6 213.74 0.32
2015 4 197 210.7 294.24 212.11 0.32
2015 5 197 219.55 304.79 219.85 0.34
2015 6 196.92 218.98 306.06 220.84 0.34
2015 7 196.97 237.15 306.41 216.87 0.33
2015 8 197 216.64 307.21 219.33 0.33
2015 9 197 222.68 302.55 221.22 0.34
2015 10 196.99 224.83 302.26 221.45 0.34
2015 11 196.99 232.4 299.38 211.53 0.32
2015 12 196.99 258.3 295.39 214 0.32
2016 1 197 289.78 283.62 214.09 0.33
2016 2 197 329.83 281.79 218.55 0.33
2016 3 197 320.93 280.4 218.89 0.33
2016 4 197 320.71 282.07 223.46 0.34
2016 5 197 336.93 286.33 222.85 0.34
2016 6 231.76 351.82 328.53 260.03 0.38
2016 7 294.57 364.47 388.37 325.9 0.49
2016 8 309.73 396.15 406.13 347.33 0.53
2016 9 305.23 431.1 401.08 342.17 0.52
2016 10 305.21 462.03 375.71 336.21 0.51
2016 11 305.18 415.36 379.49 329.84 0.5
2016 12 305.22 455.26 381.39 322.13 0.47
2017 1 305.2 493.29 376.32 324.37 0.49
2017 2 305.31 494.7 381.17 324.95 0.5
2017 3 306.4 429.48 378.13 327.35 0.5
2017 4 306.05 392.89 386.92 328.15 0.5
2017 5 305.54 384.48 395.04 337.72 0.51
2017 6 305.72 366.25 391.57 343.24 0.52
2017 7 305.86 365.38 397.36 358.5 0.54
2017 8 305.67 365.57 396.08 360.93 0.55
2017 9 305.89 365.55 408.57 364.53 0.56
2017 10 305.62 362.21 403.25 359.34 0.55
2017 11 305.9 362.41 404.45 359.07 0.54
2017 12 306.31 362.83 410.48 362.36 0.55
2018 1 305.78 363.2 422.35 373 0.57
2018 2 305.9 362.48 427.4 377.84 0.58
2018 3 305.74 362.07 427.26 377.19 0.57
2018 4 305.61 362.25 428.38 374.22 0.57
2018 5 305.83 362.86 412.23 361.67 0.55
2018 6 305.87 360.66 406.64 357.48 0.54
2018 7 305.81 359.36 402.76 357.4 0.54
2018 8 306.06 359 394.24 353.54 0.54
2018 9 306.27 362.86 399.86 357.14 0.54
2018 10 306.5 360.74 398.86 351.87 0.54
2018 11 306.71 362.82 395.87 348.61 0.53
2018 12 306.92 363.46 389.4 349.54 0.53
2019 1 306.85 360.94 395.53 350.45 0.53
2019 2 306.77 359.76 399.02 348.31 0.53
2019 3 306.92 359.24 404.28 347.07 0.53
2019 4 306.96 359 400.18 344.95 0.53
2019 5 306.95 359.75 393.98 343.34 0.52
2019 6 306.95 359.94 388.93 346.91 0.53
2019 7 306.94 359.43 382.8 344.29 0.53
2019 8 306.93 359 373.26 341.31 0.52
2019 9 306.92 359 376.06 337.81 0.51
2019 10 306.96 359 388.43 339.59 0.52
2019 11 306.95 359 395.63 339.3 0.52
2019 12 306.95 360.25 402.83 341.19 0.52
2020 1 306.96 361 401.22 340.77 0.52
2020 2 306.96 359 397.96 334.79 0.5
2020 3 326.63 376.89 403.79 361.02 0.52
2020 4 361 420.15 447,92 392.12 0.51
2020 5 361 443.89 443.96 393.42 0.51
2020 6 361 447.71 452.17 406.38 0.53
2020 7 377.19 464.71 476.54 431.27 0.53
2020 8 381 473.48 500.38 450.7 0.66
2020 9 381 453.68 494.18 449.35 0.68
2020 10 381 459.5 494.71 448.82 0.68
2020 11 381 472.74 503.49 451.09 0.68
2020 12 381 471.62 511.67 463.54 0.7
2021 1 381 472.4 519.7 463.84 0.71
2021 2 381 476.05 528.05 460.96 0.7
2021 3 381 481.21 528.05 453.51 0.69
2021 4 381 481.6 527.48 456.43 0.69
2021 5 397.75 482.82 561.26 484.06 0.72

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Naira

Black Market Exchange Rate Today 1st December 2023

What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of December 1st, 2023, the dollar to naira exchange rate is 1 USD to 1160 NGN at the black market.

Published

1 week ago

on

December 1, 2023

By

naira

What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of December 1st, 2023, the dollar to naira exchange rate is 1 USD to 1160 NGN at the black market.

This means that for every one US dollar, you can exchange it for ₦1160, Investors King reports.

This digital business news platform has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

How Much is Dollar to Naira Today in the Black Market?

This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. However, you can buy and sell 1 USD at ₦1160 and ₦1150 as of the time of writing today.

What is the current exchange rate of the dollar to naira in the black market today?

According to Investors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for ₦1160 and sold for ₦1150.

Exchange Rate of Dollar To Naira in Black Market Today?

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate 1150
Buying Rate 1160

Central Bank of Nigeria (CBN) Naira Exchange Rates for Banks

Investors King understands that although the dollar to naira opened at N1160 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange.

On Friday, December 1st, 2023, individuals in the black market purchased one US dollar for N1160 and sold it for N1150. This shows that the value of the Naira declined when compared to Monday, November 27th, 2023 when the local currency was exchanged at N1155 to a Dollar and a Dollar was purchased at N1145.

To stay informed about the dollar to naira exchange rate, there are several reliable sources that you can turn to. Here are some tips for staying up-to-date:

  • Check the Central Bank of Nigeria’s website: The CBN is responsible for regulating the country’s monetary policy and is a reliable source for the latest exchange rates. You can check their website regularly for updates.
  • Follow financial news outlets: Financial news outlets such as Investors King, Bloomberg, Reuters, and CNBC provide regular updates on the global currency markets, including the dollar to naira exchange rate.
  • Use online currency converters: There are a number of online currency converters that allow you to quickly and easily check the exchange rate between the dollar and the naira.
  • Follow social media accounts of financial experts: Following social media accounts of financial experts such as analysts, economists, and financial advisors can give you valuable insights into the latest trends in the currency markets.

By staying informed about the dollar-to-naira exchange rate, you can make informed decisions when buying or selling foreign currencies. Whether you are a business owner looking to trade in foreign currencies or an individual looking to invest in the currency markets, knowledge of the latest exchange rates is key to success. Keep these tips in mind and stay informed about the latest trends in the global currency markets.

Continue Reading

Naira

Black Market Exchange Rate Today 28th November 2023

What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of November 28th, 2023, the dollar to naira exchange rate is 1 USD to 1157 NGN at the black market.

Published

2 weeks ago

on

November 28, 2023

By

New Naira notes

What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of November 28th, 2023, the dollar to naira exchange rate is 1 USD to 1157 NGN at the black market.

This means that for every one US dollar, you can exchange it for ₦1157, Investors King reports.

This digital business news platform has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

How Much is Dollar to Naira Today in the Black Market?

This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. However, you can buy and sell 1 USD at ₦1157 and ₦1153 as of the time of writing today.

What is the current exchange rate of the dollar to naira in the black market today?

According to Investors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for ₦1157 and sold for ₦1153.

Exchange Rate of Dollar To Naira in Black Market Today?

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate 1153
Buying Rate 1157

Central Bank of Nigeria (CBN) Naira Exchange Rates for Banks

Investors King understands that although the dollar to naira opened at N1157 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange.

On Tuesday, November 28th, 2023, individuals in the black market purchased one US dollar for N1157 and sold it for N1153. This shows that the value of the Naira declined when compared to Monday, November 27th, 2023 when the local currency was exchanged at N1155 to a Dollar and a Dollar was purchased at N1145.

To stay informed about the dollar to naira exchange rate, there are a number of reliable sources that you can turn to. Here are some tips for staying up-to-date:

  • Check the Central Bank of Nigeria’s website: The CBN is responsible for regulating the country’s monetary policy and is a reliable source for the latest exchange rates. You can check their website regularly for updates.
  • Follow financial news outlets: Financial news outlets such as Investors King, Bloomberg, Reuters, and CNBC provide regular updates on the global currency markets, including the dollar to naira exchange rate.
  • Use online currency converters: There are a number of online currency converters that allow you to quickly and easily check the exchange rate between the dollar and the naira.
  • Follow social media accounts of financial experts: Following social media accounts of financial experts such as analysts, economists, and financial advisors can give you valuable insights into the latest trends in the currency markets.

By staying informed about the dollar-to-naira exchange rate, you can make informed decisions when buying or selling foreign currencies. Whether you are a business owner looking to trade in foreign currencies or an individual looking to invest in the currency markets, knowledge of the latest exchange rates is key to success. Keep these tips in mind and stay informed about the latest trends in the global currency markets.

Continue Reading

Naira

Black Market Exchange Rate Today 27th November 2023

What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of November 27th, 2023, the dollar to naira exchange rate is 1 USD to 1155 NGN at the black market.

Published

2 weeks ago

on

November 27, 2023

By

Central Bank of Nigeria (CBN)

What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of November 27th, 2023, the dollar to naira exchange rate is 1 USD to 1155 NGN at the black market.

This means that for every one US dollar, you can exchange it for ₦1155, Investors King reports.

This digital business news platform has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

How Much is Dollar to Naira Today in the Black Market?

This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. However, you can buy and sell 1 USD at ₦1155 and ₦1145 as of the time of writing today.

What is the current exchange rate of the dollar to naira in the black market today?

According to Investors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for ₦1155 and sold for ₦1145.

Exchange Rate of Dollar To Naira in Black Market Today?

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate 1145
Buying Rate 1155

Central Bank of Nigeria (CBN) Naira Exchange Rates for Banks

Investors King understands that although the dollar to naira opened at N1155 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange.

On Monday, November 27th, 2023, individuals in the black market purchased one US dollar for N1155 and sold it for N1145. This shows that the value of the Naira declined when compared to Friday, November 24th, 2023 when the local currency was exchanged at N1140 to a Dollar and a Dollar was purchased at N1135.

To stay informed about the dollar to naira exchange rate, there are a number of reliable sources that you can turn to. Here are some tips for staying up-to-date:

  • Check the Central Bank of Nigeria’s website: The CBN is responsible for regulating the country’s monetary policy and is a reliable source for the latest exchange rates. You can check their website regularly for updates.
  • Follow financial news outlets: Financial news outlets such as Investors King, Bloomberg, Reuters, and CNBC provide regular updates on the global currency markets, including the dollar to naira exchange rate.
  • Use online currency converters: There are a number of online currency converters that allow you to quickly and easily check the exchange rate between the dollar and the naira.
  • Follow social media accounts of financial experts: Following social media accounts of financial experts such as analysts, economists, and financial advisors can give you valuable insights into the latest trends in the currency markets.

By staying informed about the dollar-to-naira exchange rate, you can make informed decisions when buying or selling foreign currencies. Whether you are a business owner looking to trade in foreign currencies or an individual looking to invest in the currency markets, knowledge of the latest exchange rates is key to success. Keep these tips in mind and stay informed about the latest trends in the global currency markets.

Continue Reading
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