The Central Bank of Nigeria, CBN says reports that it has devalued the Naira to N631 per dollar, down from N461.6 at the Importers and Exporters (I&E) is false.
The apex bank in a statement by its Acting Director of the Corporate Communications Department, Isa Abdulmumin on Thursday, noted that “For the avoidance of doubt, the exchange rate at the Investors’ & Exporters’ (I&E) window traded this morning (June 1, 2023) at N465/US$1 and has been stable around this rate for a while.
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There were speculations in the media that the Naira may have been devalued, following reports that the apex bank sold the spot rate to banks on behalf of their customers at N631 per dollar on Wednesday.
A check on the CBN official website and FMDQ platform on Thursday morning showed that the Naira to the dollar in the I & E window was still quoted at N461.60 to a dollar.
(Editor: Ifeanyi Mark)
