"AS FROM NEXT WEEK $1USD WILL EQUAL N250" - CBN
The Central Bank of Nigeria, CBN, said on Wednesday it would begin market-driven foreign currency trading next week, abandoning the peg of 197 naira per dollar that it has supported for 16 months.
The Central Bank of Nigeria has expressed optimism that the naira, the nation’s currency would settle at around N250 to one United States dollar after an initial period of weakness following a flotation, on Monday, Godwin Emefiele , the bank’s governor has said in a letter to President Muhammadu Buhari.
he naira is expected to fall sharply when interbank trading begins on Monday, but the central bank said it did not have a target for the currency and the price would be “purely” market-driven. The naira was trading on the black market at around 370 to the dollar on Thursday.
source: today.ng
The Central Bank of Nigeria has expressed optimism that the naira, the nation’s currency would settle at around N250 to one United States dollar after an initial period of weakness following a flotation, on Monday, Godwin Emefiele , the bank’s governor has said in a letter to President Muhammadu Buhari.
he naira is expected to fall sharply when interbank trading begins on Monday, but the central bank said it did not have a target for the currency and the price would be “purely” market-driven. The naira was trading on the black market at around 370 to the dollar on Thursday.
source: today.ng
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