Coronavirus
CBN devalues Naira, restores uniform exchange rate of N380/USD
The Central Bank of Nigeria has made an alteration in the exchange rate of dollar to Naira as confirmed in a communique to all banks and Bureau De Change on Friday, March 20.
The apex bank on Friday sold dollars to deposit money banks at the rate of N380 to one dollar signalling the official return of a single exchange rate regime in the country’s foreign exchange market.
The CBN directed banks and Bureau De Change to ensure that the end-user sales of the Dollar should not be more than N380/1USD. The communique was on the disbursement of the proceeds of the International Money Transfer Operator (IMTO).
CBN’s communique which backed the highest official exchange rate between the dollar and naira in over two years, came barely a week after the apex bank denied plan to devalue the Naira.
Here is it below:
-
News24 hours ago
Two bodies recovered from submerged truck in US bridge collapse
-
Metro24 hours ago
Police neutralise two notorious bandits in Benue
-
Entertainment23 hours ago
Actress Eniola Ajao apologizes over Bobrisky’s best-dressed female saga
-
News20 hours ago
Military frees abducted Lagos editor Segun Olatunji
-
featured10 hours ago
Song lyrics are now simpler, angrier, more self-obsessed – Study
-
News13 hours ago
Easter: IGP assures police commitment to public safety
-
News13 hours ago
Nationwide blackout imminent as national grid collapses
-
Entertainment12 hours ago
Why I became transgender – Bobrisky