Naira has on Tuesday appreciated by 2 per cent at N490 per dollar in the parallel market.
It has, however, depreciated by 1 per cent at N394 to the dollar in the Import & Export (I&E) window.
Last Friday, the Central Bank of Nigeria (CBN) announced the devaluation of the naira. It also tasked Bureau de Change (BDCs) in the country not to sell dollars higher than N392 to end users.
This was after the naira fell at N500 to the dollar in the parallel market.
CBN instructed, “Please be advised that the applicable exchange rate for the disbursement of proceeds of international money transfer service operators (IMTOs) for the period, Monday November 30 to Friday December 14, 2020, is as follows: IMTSOs to banks – N388/$1; Banks to CBN – N399/$1; CBN to BDCs – N390/$1; BDCs to end-users not more than N392/$1.”
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