CBN Confirms N410.25/$ As New Official Exchange Rate

0
38
CBN Confirms N410.25/$ As New Official Exchange Rate
CBN Confirms N410.25/$ As New Official Exchange Rate
The central bank of Nigeria (CBN) has confirmed 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/$ earlier in May.
Central Bank Reduces Intervention Interest Rate From 9% To 5%

Earlier in May, the CBN removed the exchange rate of N379/$1 from its website, conforming with the bank’s policy that the NAFEX (Nigerian Autonomous Foreign Exchange Rate Fixing) rate is now the default reference exchange rate for official and legitimate transactions.

Also, the Central Bank of Nigeria’s (CBN) monetary policy committee has voted to keep the monetary policy rate at 11.5 percent.The CBN governor, Godwin Emefiele, declared the committee’s decision at the end of a two-day meeting at the CBN headquarters on Tuesday, May 25.

CBN

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here