Business
Naira Exchanges For N491/$ At Parallel Market
The naira exchanged to the dollar at N491.5/$ at the parallel market on Wednesday.
According to naijabdcs.com, the official exchange rate website of the Central Bank of Nigeria for the Bureau de Change operators, the country’s currency was bought and sold at N487/491.5 to the dollar as of Wednesday evening.
The CBN recently adopted the NAFEX Investor & Exporter forex window rate of N410.25 as its official exchange rate to the dollar.
It confirmed this new official rate on its website on Monday night, after it had removed N379/$.
It would be recalled that in April 2017, the CBN established the I&E forex window as part of efforts to deepen the foreign exchange market and accommodate all forex obligations.
The purpose of the window was to boost liquidity in the forex market and ensure timely execution and settlement for eligible transactions.
-
Latest News2 days agoTinubu Announces New Appointment, Sends Nominee To Senate For Confirmation
-
Latest News1 week agoPresidency Moves Against VDM Over Fake Tinubu Audio Allegation
-
Latest News5 days agoShake-Up At CBN: Deputy Governors Redeployed, Full List Released
-
Politics2 weeks agoWike’s PDP Camp Unveils 2027 Presidential Candidate
-
Politics4 days agoJune 12: Tinubu Set For Nationwide Broadcast, NASS Address
-
Politics2 days agoWike Clears Air On Chinda, Says INEC Candidate List Drops In July
-
Politics2 weeks agoAPC Drops Full List Of Lagos Assembly, Reps Candidates For 2027 Elections
-
Education1 week agoNELFUND Refutes Claims Of Suspending Students’ Upkeep Allowance
-
Politics1 week agoGanduje Fires At Kwankwaso: “He Was Once My Political Boy
-
Latest News2 weeks agoJibrin Breaks Silence On Dumping Kwankwaso For Tinubu: “It Wasn’t Betrayal
-
Politics7 days ago2027: Kwankwaso Breaks Silence After Being Named Peter Obi’s Running Mate
-
Politics1 week agoRefund My Presidential Nomination Fee” — DLA Aspirant Demands Payback From Party