CBN announces new exchange rates for euro, pound as naira depreciates
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Naira depreciated against the US dollar, pound, and euro; exchange rate on August 20, 2024, was N1,592.06/$1, down from N1,579.22/$1; depreciation of 0.81% or N12.84; naira also fell to N2,067.87/£1 from N2,041.46/£1 and to N1,762.43/€1 from N1,739.40/€1; total forex turnover decreased by 6.6% to $152.26 million; Aminu Gwadabe of ABCON attributes depreciation to CBN's inconsistent forex interventions.

#Naira #Cbn #Forex #Depreciation #Dollar #Pound #Euro #Nigeria #Economy #Abcon

https://www.legit.ng/business-economy/money/1609499-traders-banks-give-exchange-rate-naira-depreciates-dollar-official-markets/