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WEEKLY ECONOMIC INDEX: CENTRAL BANK ADJUSTS EXCHANGE RATE, DEVALUES NAIRA

by CBDC Insider Staff
July 14, 2020
in Africa, Business
Reading Time: 1min read
0
WEEKLY ECONOMIC INDEX: CENTRAL BANK ADJUSTS EXCHANGE RATE, DEVALUES NAIRA
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The Central Bank of Nigeria last Tuesday adjusted the official value of the naira to the dollar, as parts of measures to converge the nation’s multiple exchange rates and ensure stability.
Although the CBN did not officially make its position known, data obtained on the website of FMDQ OTC Securities Exchange on the official rate showed a 5.54 percent change from ₦360 per dollar to ₦381 a dollar. More details here.

Continue read: http://venturesafrica.com/weekly-economic-index-central-bank-adjusts-exchange-rate-devalues-naira/

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