Naira closes at N493/$ at parallel market as CBN adopts NAFEX rate

The naira closed at 493 naira to the dollar at the parallel market. This comes after the Central Bank of Nigeria said it is running a managed float regime and benchmarks all FX transactions against the NAFEX rate. Tunde Adama, Head of Trading at CITI Nigeria joins CNBC Africa for a focus on the local currency market.
Thu, 27 May 2021 12:41:11 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.