Eko Hot Blog reports that the Nigeria’s official currency, the Naira, on Monday, appreciated to N1,250 per dollar at the parallel section of the foreign exchange (FX) market. The FX rate is a 0.43 percent increase from the N1,280 recorded on March 29. Editor’s Picks JUST IN: Army Reacts As Explosion Rocks Ikeja Cantonment Police Confirm Delta … Read more
The IMF supports Nigeria’s central bank’s policy to unify exchange rates, allowing market forces to determine the rate. The new policy ensures that certain requests will still be processed through the Investors and Exporters (I&E) window. All forms of exchange rate segmentation are abolished, and the “Willing Buyer, Willing Seller” model will be reintroduced at … Read more
Naira depreciates further against the dollar at N472.50. Governor of Central Bank of Nigeria, Godwin Emefiele, suspended; Deputy Governor (Operations Directorate) appointed as acting governor. $77.42 million traded at Investors and Exporters window. EKO HOT BLOG reports that Naira on Friday depreciated further against the dollar at the Investors and Exporters window, exchanging N472.50 to … Read more