The Central Bank of Nigeria(CBN) has moved the FX sales rate to FPIs to N380.2/$, from N366.7/$, in a move that suggests a technical devaluation of the naira, information available from Bloomberg terminal shows.
An analyst in Lagos confirmed to BusinessDay that CBN sold the dollar at N380.2 on the I&E window on Friday.
The official rate is still N306/$ but an announcement of an adjustment to the new rate is expected by Tuesday next week.
