Another Naira devaluation looms as CBN moves to harmonise exchange rates

Foreign reserves shed $2.3bn in H1 amid rising oil price

Another Naira devaluation looms as CBN moves to harmonise exchange rates     Indications are rife that the Central Bank of Nigeria (CBN) may have commenced the process of harmonizing various exchange rates adopted by the apex bank over the years or further devalue naira. This insinuation became a general thought when it was discovered that as at Friday, the apex band had removed the N379/$1 official exchange rate from it’s website and the CBN Official rate was last updated on May 10, 2021 on the FMDQ Experts have interpreted…

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