Naira strengthens at I&E window, weakens at black market

  • 📰 MobilePunch
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

The naira at the official market however closed flat at ₦461.07/USD.

It partly read, “Macroeconomic stability has weakened amidst declining oil production, costly fuel subsidies, exchange rate distortions, and monetization of the fiscal deficit.

At the third ‘Race to US$ 200bn In FX Repatriation’ Non-oil export summit of the CBN, the governor, Godwin Emefiele, said exporters of raw and unprocessed items will now enjoy a rebate for every dollar of non-oil export proceeds sold at the I&E window.

 

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:

 /  🏆 8. in US

United States United States Latest News, United States United States Headlines