The exchange rate at the black market where forex traded unofficially depreciated at N477/$1.
From January 31, 2021, the CBN will bar exporters who fail to repatriate export proceeds from accessing banking services.
The new circular explains who diaspora remittances are to be paid to beneficiaries in Nigeria only in foreign currency and not naira.
The exchange rate between the naira and the dollar appreciated closing at N394/$1 at the NAFEX window.
The exchange rate at NAFEX trades at N415/$1 during Intra-day trading NAFEX as forex turnover rises by 233% rise
The exchange rate between the naira and the dollar appreciated marginally closing at N393.35/$1.
The US dollar stands at ₦470/US$1 in the parallel market
The exchange rate appreciated on Monday as external reserves cross $36.3 billion
Pressure on FX will continue in 2021 as a result of thin reserve buffers and recovering domestic demands.
The Naira remained stable against the dollar at the Investors and Exporters (I&E) window on Friday, closing at N394.67/$1.
