Yuletide: Prices Of Goods To Rise As CBN Adjusts Exchange Rate To N951/$1.

Importation into the country this yuletide period will be low while prices of imported goods will rise as the Central Bank of Nigeria (CBN) has adjusted the official exchange rate from N783.174/$1 to N951.941/$1

ONIFTV gathered that the adjustment was made on Thursday morning by the CBN, meaning the cost of clearing cargoes in the nation’s seaports will go up.

It could be recalled that the CBN had on June 24, 2023 adjusted the exchange rate from N422.30/$1 to N589/$1 and on July 6, 2023, it was adjusted to N770.88/$1, on November 14, 2023, it was adjusted to N783.174/$1, and now adjusted to N951.941/$1.