Forex: CBN throws Naira into open market, nullifies N197/$ exchange rate

25 May 2015, Abuja — The Central Bank of Nigeria, CBN, yesterday, announced a flexible exchange rate regime aimed at making foreign currencies more accessible. With this action, the CBN has nullified the official exchange rate regime of N197/dollar. The CBN took the measure following severe pressures on external reserve and foreign exchange supply crisis. […] More »