During March, the exchange rates of the Nigerian naira (NGN) deteriorated against the U.S. dollar (USD) across foreign exchange markets, despite substantial foreign exchange interventions in both the official and parallel markets. The naira experienced a 3% decline, even though the Central Bank of Nigeria (CBN) injected over $1 billion into the official window to … Continue reading Naira Declines By 3%, CBN Supports Local Currency With $1.03bn