The naira
exchanged to the dollar at N491.5/$ at the parallel market on Wednesday.
According to
naijabdcs.com, the official exchange rate website of the Central Bank of
Nigeria for the Bureau de Change operators, the country’s currency was bought
and sold at N487/491.5 to the dollar as of Wednesday evening.
The CBN
recently adopted the the NAFEX Investor & Exporter forex window rate of
N410.25 as its official exchange rate to the dollar.
It confirmed
this new official rate on its website on Monday night, after it had removed
N379/$.
It would be
recalled that in April 2017, the CBN established the I&E forex window as
part of efforts to deepen the foreign exchange market and accommodate all forex
obligations.
The purpose
of the window was to boost liquidity in the forex market and ensure timely
execution and settlement for eligible transactions.
Source:
Punchng.com
0 Comments