The Naira has fallen to a record low of N465.07 versus the dollar with less than two weeks till President-elect Bola Tinubu’s inauguration.
The CBN allowed the country’s currency to depreciate by the greatest in nearly five months, according to Bloomberg on Thursday.
At 1.11 p.m., the naira hit a record low against the dollar, falling to 465.07. The highest decrease since December 29, 2022, is in Nigerian time.
A more flexible strategy will be pursued by Tinubu, who will take office as president on Monday, May 29. He has promised to put an end to the practice of keeping several exchange rates.
The naira has fallen to a record low of N465.07 versus the dollar with less than two weeks till President-elect Bola Tinubu’s inauguration.
The Central Bank of Nigeria allowed the country’s currency to depreciate by the greatest in nearly five months, according to Bloomberg on Thursday.
At 1.11 p.m., the naira hit a record low against the dollar, falling to 465.07. The highest decrease since December 29, 2022, is in Nigerian time.
A more flexible strategy will be pursued by Tinubu, who will take office as president on Monday, May 29. He has promised to put an end to the practice of keeping several exchange rates.
