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

By AdvocateNews on 10/08/2020

Share on facebook Yahoo mail icon Gmail icon

Views: 1,912

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...
North sinking under your watch – 17 Northern...

Nigeria hits 73,000 COVID-19 cases, records 2 deaths...

Nigeria’s inflation rate hits 13.7%, highest in 30...

Fake news hindering our efforts against COVID-19 —...

50 kidnapped, 300 injured in Anambra communal clash...

Enugu govt promises care for brutalized 10-year-old girl,...

Alleged ‘Husband Killer’ Maryam Sanda appeals her death...

Gunmen shoot former NHRC boss in Benue

Catholic Church returns to CAN

Chidinma’s U-turn on Super TV boss Ataga’s murder...

IPOB members attack DSS patrol team, kill two...

Buhari appoints new registrar for NECO

 

Latest News 2023: ‘Pairing of Governor Yahaya Bello and FFK as candidate and running mate untrue’ – APC Chieftain You’re just an attention seeker – PDP tells Umahi Maiduguri thrown into darkness again as ISWAP blows up high tension electricity towers Breaking: INEC office in Awgu, Enugu state set ablaze Angry residents set six suspected bandits ablaze in Sokoto community Ex-CBN Deputy Governor, Mailafia is dead Gunmen attack political meeting in Enugu, threaten no election in South East in 2023 EFCC arrests 16 internet fraud suspects in Enugu Osinbajo charges religious leaders to pay Pentecost tax Miyetti Allah chairman dies in the hands of kidnappers — Official Rumour of Ugwuanyi joining APC is false - Onoh Umahi sabotaged PDP in 2019 elections, PDP governors allege

 

Most Read I’ve no Coronavirus, govt wants to kill me – Anambra Index case (169,342 views) Ex-Heads of State will protect Jonathan from persecution —Kukah (167,453 views) Sickle cell support group seeks government intervention (167,450 views) Ebonyi bans embalming of corpses in homes (167,450 views) FG sends new directive to banks, schools as Buhari extends lockdown by four weeks (167,450 views) Ugwuanyi commends FG’s siting of ICT University in Enugu (167,449 views) Fleeing ex-DG Imo Broadcasting Corporation who stabbed wife to death arrested (167,449 views) Full Text of Governor Ifeanyi Ugwuanyi’s 2016 Budget Speech (167,380 views) HUSHPUPPI: CRIMINALS HAVE NO TRIBE. THEY SHAME ALL OF US... (164,494 views) ASUU strike: Senate intervention ends in deadlock (164,083 views) All you need to know about Peter Obi, PDP VP Candidate (134,939 views) DEMOCRACY DAY: President Muhammadu Buhari’s full speech (133,398 views)

 

 

SECTIONS NEWS (6,642) FAITH (156) EDITORIAL (17) POLITICS (493) SOCIETY (129) SPORTS (51) BUSINESS (364) HEALTH (57) EDUCATION (48) ENTERTAINMENT (49) INTERNATIONAL (176) TECHNOLOGY (1) COLUMNISTS (57) LETTERS (4) OPINION (37)

 

 


There are no video entries posted yet.