Naira Devalued By CBN To N631/$1 – Report

EKO HOT BLOG reports that The Central Bank of Nigeria has devalued the naira to N631 to the dollar from N461.6.

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The devaluation came 48 hours after President Bola Ahmed Tinubu announced the plans of the Federal Government to unify the country’s exchange rate to stimulate the economy.

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According to the Daily Trust, it was sold at the new rate on the Importers and Exporters window on Wednesday.

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