Exchange Rate: CBN agrees to settle February NDF at N412/$1

CBN defends naira

Exchange Rate: CBN agrees to settle February NDF at N412/$1   The Central Bank of Nigeria has revised its one-year Non-Deliverable Forwards (NDF) for which it intends to settle foreign exchange futures contracts for the period ending February 2021 to N452.82 up from N440.86. The NDF is a closely watched indicator of the direction of the exchange rate in the future and is often referenced against the spot rate of the exchange rate between the naira and the dollar. Nairametrics gathers that foreign currency analysts are pointing at the latest…

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