Share

Addressing naira’s free fall in FX markets

It’s been about two months since the Central Bank of Nigeria stopped the sale of forex to Bureau De Change operators and switched to banks. Since then, the value of the naira at the parallel market dropped from around 500 to about 550 naira to a dollar. Interestingly, the CBN says it is not worried about currency valuation but is more focused on having enough dollar supply to meet demand. Egie Akpata, Director at UCML Capital joins CNBC Africa for more.
Wed, 15 Sep 2021 14:14:56 GMT
Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.