Price of Int’l airfares to rise as airlines adjust exchange rate

Airlines’ exchange rate has surged from N582 per dollar to N610 per dollar, signaling an imminent increase in international airfares ticket.

The surge in rate is attributed to the accumulation of trapped funds by foreign airlines, which now exceed $700 million.

The rate has increased twice in the past two months, rising from N460/$ to N551/$ in March and further to N610/$ in April.

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