(Updated) Breaking: CBN Technically Devalues Naira to N380/$1 on I & E Window via thisdaylive
The Central Bank of Nigeria has technically devalued the naira exchange rate on the Investors and Exporters’ window from the N366.7 to a dollar it closed on Thursday, to N380.20 to a dollar.Trading data from Bloomberg terminal showed that there was very low appetite for the CBN open market operations instruments offered Thursday, suggesting that foreign portfolio investors have since adopted a wait-and-see approach to the raging COVID-19 pandemic.
“Dear all, kindly be informed that the CBN has moved the rate of FX sales to FPIs from N366.70 to N380.20/$. We will advise as developments unfold,” traders were advised on the Bloomberg terminal.
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