Read more about Business
In an official statement, the CBN emphasized that there has been no change in the country’s exchange rate policy. The Naira’s value remains unchanged, and the rate of 465 Naira to a dollar still stands as the official exchange rate. The central bank assured the public that any information suggesting otherwise is unfounded and should be disregarded. This clarification by the CBN aims to stabilize the foreign exchange market and maintain confidence in the Nigerian economy. The false reports of a devaluation had sparked concerns among businesses, investors, and the general public. By setting the record straight, the central bank aims to curb any unwarranted volatility and ensure the smooth functioning of the currency market.
Sign up for the Connect Nigeria daily newsletter
As Nigerians and the global community navigate through these challenging times, accurate information and clear communication play a pivotal role in maintaining trust and stability. The CBN’s prompt response in debunking the false devaluation claims serves as a reminder of the central bank’s dedication to fostering a resilient and thriving Nigerian economy.
Register to attend the CN Business Mixer
In conclusion, the Central Bank of Nigeria has dismissed the news of a devaluation of the naira, reiterating that the official exchange rate remains unchanged at 465 Naira to a dollar. This clarification aims to alleviate concerns, promote stability, and ensure that accurate information prevails in the financial landscape of the nation. Featured Image Source: Leadership News
Did you find this article useful? Contact us: editor@connectnigeria.com
You might also like:
- How To Market Your T-shirt Business Offline
- Consumer Technology: Smartphone Penetration in Nigeria
- 10 Tips for Starting a Dropshipping Business in Nigeria
- Tips for Managing Your Business’s Financial Records
