The naira closed at N461.76 per dollar at the Investors and Exporters window on Thursday, a N0.16 kobo drop from N461.60 traded in the previous session.
This slight drop came amid a viral story claiming that the Central Bank of Nigeria had devalued the Nigerian currency to N630 per dollar. The CBN has since denied the claim, labelling it fake news.
In a statement signed by its Acting Director, Corporate Communications, Isa AbdulMumin, the CBN said, “We wish to state categorically that this news report, which in the imagination of the newspaper is exclusive, is replete with outright FALSEHOODS and destabilising innuendos, reflecting potentially willful ignorance of the said medium as to the workings of the Nigerian Foreign Exchange Market.
“For the avoidance of doubt, the exchange rate at the Investors’ & Exporters’ window traded this morning at N465/US$1 and has been stable around this rate for a while.” Based on FMDQ data on Thursday, the naira traded lower at N464.77, from N464.67 it traded on Wednesday when the turnover stood at $163.74m and the highest intra-day rate was N467.
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