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

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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.

 

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 /  🏆 8. in ZA

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