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Saturday, June 19, 2021
Home Uncategorized Nigeria’s Central Bank Moves Official Exchange Rate To N410.25

Nigeria’s Central Bank Moves Official Exchange Rate To N410.25

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From Kayode EKUNDAYO

The Central Bank of Nigeria (CBN) has finally adopted the Investors & Exporters (I&E) foreign exchange rate as its official rate.

The regulatory bank posted the NAFEX rate of N410.25 on its website on Monday, to replace its previous N379 per dollar rate it had adopted last year as a benchmark for the foreign exchange rate.

The CBN action ended the speculations in the market in the past few weeks, when it suddenly removed the official exchange rate from its website

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