CBN Takes Another Step To Crash Dollar, Predicts New Exchange Rate [Video]

• The Central Bank of Nigeria is determined to find a solution to the current naira-to-dollar exchange rate
• Its latest move is an intervention in the forex markets to ensure liquidity and ease the demand pressure that has pushed the exchange rate above N1,600
• The CBN has provided renewed hope for the naira, indicating that exchange rate changes are expected in the coming months

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Central Bank of Nigeria (CBN) has stepped in to stop the naira’s continuous depreciation against the dollar and other foreign currencies.

In its latest move, the CBN said it injected $106.5 million into the foreign exchange market in two days to enhance liquidity and ease FX demand pressure.

The apex bank disclosed this in a circular signed …