On Wednesday, the naira traded for 755 to the dollar at the investors and exporters (I&E) window, following a reported float of the naira...
The market also recorded a 3.13% rally at the Nigerian Exchange, showing investors’ endorsement of the policy and subsequent inflow of the greenback.
If a business takes a $100,000 loan in January 2023 through the official channels, that would be N47,000,000. However, imported goods and services, which were priced at 471 to the dollar, will get more expensive. For instance, imported drugs and pharmaceuticals will get more expensive, IELTS and visa costs will get more expensive.
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