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Update! Naira Falls Against Dollar (See Exchange Rate)

Data from the Financial Market Dealers Quote (FMDQ) showed that the indicative exchange rate for the I&E window rose to N360.45 per dollar yesterday, from N360.15 per dollar on Wednesday, translating to a 30 kobo loss in the value of naira.

Central Bank of Nigeria devalues Naira

Gwadabe said it was an unacceptable situation for operators to access the dollar below N360 and be selling at between 370 naira and 375 naira. "There is a circular on it; we are to be buying at N378 and sell at N380," he said.

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