CBN to unify exchange rates, pegs naira at 379/$

By AdvocateNews on 10/08/2020

Share on facebook Yahoo mail icon Gmail icon

Views: 2,357

Godwin Emefiele, CBN Governor
Godwin Emefiele, CBN Governor

The Central Bank of Nigeria on Saturday officially changed the exchange rate of the naira to the dollar from N361 to N379 on its website.

The apex bank had earlier expressed its decision to unify the exchange rates in the country as forex scarcity persisted.

It was however yet to announce if this would be the official unified exchange rate.

Meanwhile, the naira exchanged for N473 at the parallel market on Friday.

Experts have continued to clamour for a single exchange rate in the country.

The President, Association of Bureaux De Change Operators of Nigeria, Alhaji Aminu Gwadabe, had said, “It will ease regulatory supervision, ensure transparency and effective price discoveries, and deepen market perfections.”

The Senior Partner, Regulatory and Technology, Stransact Partners, Eben Joels, said the gap between the various exchange rates operating in Nigeria created arbitrage opportunities for highly connected individuals.

Posted 10/08/2020 02:40:47 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

You may also like...
Fayose backs Soyinka, Afenifere urges South West govs...

Gunmen in NYSC uniform attack FC Ifeanyi Ubah...

At least 19 JOHESU members injured in auto...

Rights group drags Enugu Govt to court over...

Obi Cubana released after 24 hours in EFCC...

NUC names 67 illegal universities in Nigeria (Full...

Russia kicked out of 2022 World Cup by...

Police foil kidnap of clergyman, arrest seven notorious...

Sallah day tragedy: Bandits kill 16 persons in...

US reopens borders after 20 months

2019: Impostors trying to submit fake names to...

Senate recovers stolen mace, summons police, DSS over...

 

Latest News EFCC arrests 12 bankers in Enugu over fraud Dangote workers shot as armed Kogi Vigilantes invade Obajana cement plant Nnamdi Kanu petitions Buhari to release him immediately Peter Obi: Igbo should be president — Falae BREAKING: Obi beats Tinubu, Atiku by 51% votes in new poll ahead 2023   Peter Obi: Arrest, prosecute Mahdi Shehu, Ohanaeze tells FG 2023: Obasanjo may support Peter Obi Edeoga: Can a pact breaker keep campaign promises? Over 13,000 APC members defect to PDP in Kaduna Umahi denies ordering police to teargas, attack Peter Obi’s supporters in Ebonyi 2023: North will vote massively for Peter Obi — Prophet El-Buba Senator Ubah: How I narrowly escaped assassins’ bullets

 

Most Read Full Text of Governor Ifeanyi Ugwuanyi’s 2016 Budget Speech (518,416 views) Ex-Heads of State will protect Jonathan from persecution —Kukah (518,415 views) Fleeing ex-DG Imo Broadcasting Corporation who stabbed wife to death arrested (518,415 views) FG sends new directive to banks, schools as Buhari extends lockdown by four weeks (518,415 views) Sickle cell support group seeks government intervention (518,414 views) ASUU strike: Senate intervention ends in deadlock (518,414 views) I’ve no Coronavirus, govt wants to kill me – Anambra Index case (518,414 views) Ugwuanyi commends FG’s siting of ICT University in Enugu (518,413 views) Ebonyi bans embalming of corpses in homes (518,413 views) HUSHPUPPI: CRIMINALS HAVE NO TRIBE. THEY SHAME ALL OF US... (509,547 views) DEMOCRACY DAY: President Muhammadu Buhari’s full speech (444,669 views) All you need to know about Peter Obi, PDP VP Candidate (442,610 views)

 

 

SECTIONS FAITH (159) EDITORIAL (25) NEWS (9,923) POLITICS (524) SOCIETY (135) SPORTS (67) BUSINESS (381) HEALTH (63) EDUCATION (53) ENTERTAINMENT (65) INTERNATIONAL (232) TECHNOLOGY (8) COLUMNISTS (57) LETTERS (4) OPINION (47)

 

 


There are no video entries posted yet.