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JUST IN: CBN floats exchange rate

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Naira rebounds to 16-week high, trades N1,518/$

The Central Bank of Nigeria (CBN) has floated the country’s exchange rate, allowing commercial banks to freely trade foreign exchange at any rate.

The announcement comes after Godwin Emefiele’s suspension as CBN’s governor.

The I & E window is currently quoting between N750 -N755/$.

Details in a moment…

 

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