News Formal

Exchange rate unification: CBN devalues naira to 380.5 in official market

  • 📰 vanguardngrnews
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 75%

Philippines News News

Philippines Philippines Latest News,Philippines Philippines Headlines

Exchange rate unification: CBN devalues naira to 380.5 in official market vanguardnews

The Central Bank of Nigeria yesterday moved closer unifying the exchange rates in the official market and the Investors and Exporters window, as it devalued the naira to N380.5 per dollar in the official market.

The new official rate closely aligned with the I&E indicative exchange rate which remained stable at N386.5 per dollar at the close of business yesterday. The multiple exchange rate regimes led to the emergence of different exchange rates in the three major segments of the foreign exchange market, namely the official market, the Investors and Exporters window also known as NAFEX, and the parallel market.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in PH

Philippines Philippines Latest News, Philippines Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

$11.5bn injected into forex market in Q1 – CBN|p style=
Source: MobilePunch - 🏆 8. / 63 Read more »