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Coronation Merchant Bank sees I&E FX rate at N505/$1 by year end
Hinging its projection on stable growth in non-oil exports boosted by the RT 200 FX programme, continuous injections by the Central Bank of Nigeria (CBN) at an average 7 per cent of total inflows on a month-to-month basis, halt to fuel subsidy payments by end-H1 ’23, Coronation Merchant Bank has stated that the foreign exchange rate at the NAFEX/I&E window may close at N505/$1 by end-2023.
Guardian Nigeria
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