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Topic: Rates parity likely as N307 exchanges for dollar  (Read 909 times)

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Rates parity likely as N307 exchanges for dollar
« on: December 05, 2017, 07:00:32 AM »
Rates parity likely as N307 exchanges for dollar

Naira

The Central Bank of Nigeria (CBN) has weakened the naira marginally, selling the dollar at N307  for the first time on the official interbank market. To traders, this could signal a gradual move to merge the CBN’s multiple exchange rates. Nigeria’s convoluted exchange rate system has been used to manage what the CBN described asRead More


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