The apex bank described reports of devaluation as “falsehoods”
The bank said for the avoidance of doubt, the exchange rate at the Investors’ & Exporters’ window traded Thursday morning at N465 per $1 and has been stable around this rate for a while, urging the public to ignore reports stating otherwise.
“The public is hereby advised to ignore the news report by Daily Trust in its entirety, as it is speculative and calculated at causing panic in the market,” the CBN said.Earlier on Thursday, PREMIUM TIMES reported that naira fell slightly against the United States dollar on the spot market to trade at N464.67 per $1 local on Wednesday, according to data published by FMDQ, where forex rates are collated and traded officially showed.
However, the domestic currency gained significantly at the parallel market within the same period to trade at N740.00 per $1 against the range of N750 and above it was trading last week.
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