There is massive jubilation in Nigeria over Naira that gains value with correspondent crash of U.S Dollar after CBN hikes interest rate.
U.S Dollar crashed on Wednesday 28th by 6.45 percent to N1,450 from N1,550 sold on Tuesday 27th on the parallel market, mostly referred to as black market, after the Central Bank of Nigeria (CBN) hiked interest rate on Tuesday.
The development was as a result of CBN action that raised its Monetary Policy Rate (MPR), also known as its benchmark interest rate by 400 basis points to 22.75 percent on Tuesday from 18.75 percent in July 2023.
The value of Naira raised by 6.89 percent as the dollar crashed by 6.45 percent to N1,450 on Wednesday compared to N1,550 exchanged on Tuesday on the black market.
Quаlity articles or reviews is thе crucial to attract the peoplｅ to ցo to see the site,
that’s what this website іs ρroviding.