CBN adjusts Naira rate to US dollar

CBN adjusts Naira rate to US dollar

Thursday, June 4, 2015 1:27 pm


Nigeria’s central bank adjusted its exchange rate peg to 196.95 naira against the dollar from the 197 it set in February after the currency’s value was eroded by the fall in oil prices, data on its website showed on Thursday.

Dealers told Reuters the central bank had been selling dollars to the interbank market at its adjusted rate.

The naira was trading at 198.95 to the dollar at the interbank market on Thursday.

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