The Central Bank of Nigeria (CBN) has devalued the naira in the official market with authorised dealers expected to sell the dollar at N664.04/$1 after the close of trading on Wednesday.
Ripples Nigeria gathered that the naira was devalued by 40.7 percent, with the price of the dollar rising by N192.37 kobo this night.
The FMDQ Exchange, the official market foreign exchange rate aggregator, confirmed the development on Wednesday night.
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