The Central Bank of Nigeria (CBN) on Friday officially updated the exchange rate on its website from N360 to N379 against the dollar.
“Exchange rate (USD) as at Thursday, August 06, 2020, is N379,” the central bank said on its website.
Traders were, however, officially accessing the US dollar at N380.
Market analysts described the new exchange rate peg as a reflection of the recent currency adjustment.
“The updated exchange rate gives clarity to the uncertainty in the market,” Yinka Ademuwagun, research analyst, FMCGs, United Capital plc, said.
