CBN raises exchange rate for cargo clearance amid forex crisis

The Central Bank of Nigeria has increased the exchange rate for cargo clearance from N783/$ to N952/$ amid foreign exchange crisis.

Recall that in November, the government reviewed its exchange rate for cargo clearance to N783 per dollar from N757 per dollar, representing a 3.4 per cent increase.

The development comes amid the continued forex crisis since the apex bank floated the Naira in June.

DAILY POST reports that Naira depreciated against the US dollar to N951.22/$1 on Wednesday from N806.73/$1 on Tuesday.

(Daily Post)

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