CBN Begins Measures To Stabilize Naira Against Dollar

The Central Bank Of Nigeria, CBN, has announced planned to take new measures to stabilize naira against dollar.

This online medium reports that the Naira sank further in the foreign exchange market, last week, reaching a record high of ₦955 to US$1 on Thursday, August 10, 2023, sending shockwaves through the Nigeria business sectors.

The Acting Governor of the CBN, Folashodun Shonubi, had announced on Thursday that the Nigerian Naira is significantly undervalued, according to economic modelling using purchasing power parity.

Details later!

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