JUST IN! CBN Technically Depreciates Naira (See New Value)
Posted by E.L.E.X on March 21 2020 under News
The Central Bank of Nigeria (CBN) has technically devalued the naira exchange rate on the Investors and Exporters’ (I&E) window from the N366.7 to a dollar it closed on Thursday, to N380.20 to a dollar.
A source at the CBN confirmed this to THISDAY on Friday.
Trading data from Bloomberg terminal showed that there was very low appetite for the CBN open market operations (OMO) instruments offered Thursday, suggesting that foreign portfolio investors have since adopted a wait-and-see approach to the raging COVID-19 pandemic.
“Dear all, kindly be informed that the CBN has moved the rate of FX sales to FPIs from N366.70 to N380.20/$.
We will advise as developments unfold,” traders were advised on the Bloomberg terminal.
We will keep you updated…
Tweet
YOU MAY ALSO LIKE
Comments
Add Comment
All fields are required!
Are you interested in Advert placement | Promoting your Music or Video | Other Enquiries? We are always available to get that done for you without breaking a sweat. Send us a mail @ elextechnologies4@gmail.com | Call us @ 08132021949 | Message us via whatsapp @ 08132021949
