A day after the Central Bank of Nigeria (CBN) lifted forex restrictions on importing 43 items, the pressure on the foreign exchange (FX) market continued on Friday morning as the naira fell to one thousand and forty-nine naira to dollar on the parallel market, popularly known as the black market.
Nigeria’s Central Bank said it will continue to promote orderliness and professional conduct by all participants in the Nigerian foreign exchange market to ensure market forces determine exchange rates on a Willing Buyer – Willing Seller principle.
The CBN reiterates that the prevailing foreign exchange rates should be referenced from platforms such as the CBN website, FMDQ, and other recognized to promote price discovery, transparency, and credibility in the foreign exchange rates.
The post Naira Falls To One Thousand And Forty Nine Naira After CBN Restores Items first appeared on Royal Times of Nigeria..