The Central Bank of Nigeria (CBN) has adjusted the naira-dollar exchange rate to 196.95 to the dollar from 197.
Apex bank amends naira/dollar rate to 196.95
The change was made on Thursday, June 4, 2015, and was also reflected on the CBN’s website.
Central Bank of Nigeria (CBN) Governor, Godwin Emefiele
The move, according to analysts, might signify that the CBN is making plans on how to relax its currency regime.
Dealers in the country however said that the change is too small to be called a revaluation, according to Reuters .
The naira initially traded at 198.95 to the dollar on the interbank market on Thursday, before two sales amounting to $36.4 million were done at 196.95 naira.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Benin traditional council suspends 5 chiefs who linked Benin origin to Ile-Ife
Nigeria would have gone bankrupt if I didn't remove fuel subsidy - Tinubu
NNPCL declines FOI request on staff who alleged acquisition of luxury properties
Navy recruits 1,486 personnel to tackle oil theft, piracy – Minister
Scarcity worsens in Sokoto as black marketers sell fuel at ₦2,000/litre
Lawmaker-elect begs Gov Otti to prevail on Abia Speaker to inaugurate him
203 Ekiti public schools benefit from $25m World Bank grant
Vehicles burnt, 1 dead as tanker carrying gas explodes after brake failure in Ogun
Shettima urges political leaders to project Nigeria’s cultural diversity
ADVERTISEMENT