The Nigerian naira has closed at N663 to the dollar at the Investors and Exporters (I&E) window after what has been the currency’s most eventful week in years.
On Wednesday, the CBN issued a circular to the effect that all exchange rates in the country will now follow the “willing buyer, willing seller” arrangement at the I&E window, effectively floating the naira.
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Since then, the naira has traded at a record high of N791 per dollar, but recovered to close the week at N663.04 to the greenback.
More to follow…
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