Nigeria's central bank weakened its exchange rate peg slightly to 197 naira against the dollar on Monday from 196.50 it set last week, traders said.
Central bank weakens its FX peg to 197/US$
Traders said the regulator sent a message announcing the adjustment
CBN Governor, Godwin Emefiele.
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![Subsidy removal and the unification of the exchange rate by FG are also contributing factors [Business Day NG]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Subsidy removal and the unification of the exchange rate by FG are also contributing factors [Business Day NG]")
Traders said the regulator sent a message announcing the adjustment which is the seventh since the bank introduced tight currency controls in February.
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