Nigeria naira weakens on official market after central bank adjust FX rate

Published 23/03/2020, 13:51
© Reuters.

ABUJA, March 23 (Reuters) - The Nigerian currency NGN=D1
was quoted at 359.50 naira on Monday on the official market,
weaker than its last Thursday quote of 306.50 after the central
bank adjusted the country's official exchange rate.
There were no quotes on Friday for the naira on the official
market, which is supported by the central bank. The bank on
Friday sold the U.S. dollar to local Jaiz Bank at 360 naira,
traders said, implying a 15% currency devaluation.


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