The US dollar stands at ₦470/US$1 in the parallel market
Speculations started March 12 that the naira might be devalued. This is a timeline of every decision taken since the first devaluation.
The Naira appreciated against the dollar to close at N462/$1 on Thursday.
The sales of forex to BDCs will inject more liquidity to the retail end of the foreign exchange market.
Forex turnover at the I&E window increased substantially by 442% on Tuesday.
In contrast, the exchange rate at the parallel market gained on Wednesday as it closed at N477/$1.
Exchange rate strengthens after Sallah holiday fall
Exchange rate disparity between the parallel and black market remains as high as N85.75
The official exchange rate at NAFEX is closer to breaching the N30 ceiling.
The exchange rate at the I&E window is different from the CBN’s published exchange rate.