Categories
Uncategorized

Nigerian Vice President Says Current Naira Exchange Rate ‘Artificially Low’

Technology Manias – EᐯEᖇYTᕼIᑎG YOᑌ ᑎEEᗪ IᑎᗪEEᗪ

Nigerian Vice President Yemi Osinbajo recently warned that the country’s official naira exchange rate of N411 for every dollar is artificially low. This exchange rate, according to Osinbajo, discourages foreign exchange entrance into the country. Naira Exchange Rate Must Reflect Realities of Market Consequently, Vice President Osinbajo says he wants the Central Bank of Nigeria (CBN) to allow the naira to “reflect the realities of the market.” As a report by The Cable details, Osinbajo also wants the CBN to rethink its foreign exchange management strategy. He explained: We can’t…

The post Nigerian Vice President Says Current Naira Exchange Rate ‘Artificially Low’ appeared first on Technology Manias.

Leave a Reply

Your email address will not be published. Required fields are marked *