Amid a falling naira, CBN says exchange rates would converge

The Central Bank of Nigeria (CBN) maintains that there would be a convergence of exchange rates despite the depreciation seen in the black market.

The CBN Director of Monetary Policy, Hassan Mahmud, stated this during a virtual investor conference on Tuesday.

He said: “The spot rate is the reference rate and I expected convergence of Nigeria’s several exchange rates, a gap which has frustrated investors.”

Leave a Comment

Do you find Netxclusive useful? Click here to give us five stars rating!

Related Posts


No one has commented yet. Be the first!
Leave a Reply