January 16, 2021

Dambela

Dambela Blog

Again, CBN Depreciates Naira To #410.25 At I & E Window

1 min read

The naira for for the third time since 2017 experienced a slide by #16.25 kobo to close at #410.25 at the Investors and Exporters windows on Friday.

It would be recalled that the indicative exchange rate for the went up to #374 per dollar at the close of business from 368.33 /$1 on 11th March 2020 translating to #5.67 depreciation of the naira.

In a similar situation last month, The Central Bank of Nigeria depreciated the naira at the I&E window by #7.75 as shown by the FMDQ platform showing that the figure rose from #385.5/$1 to #393/$1 at the close of business on 24th November 2020.

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