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Breaking: Exchange rate for cargo clearance hits N1,605/$

The Federal Government through the Central Bank of Nigeria, has once again increased the exchange rate for cargo clearance, setting it at N1,605 per dollar.

This adjustment follows recent fluctuations, with the rate initially rising to N1,515 per dollar before briefly dropping to N1,472. The exchange rate has experienced several adjustments since January when it transitioned from N952 per dollar in December to N1,356 per dollar. Subsequent changes brought it to N1,413, then N1,444 before reaching the current rate of N1,605 per dollar.

A visit to the Nigeria Customs Service portal by our correspondent on Wednesday confirmed the reflection of the new exchange rate.

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Written by Akinlabi Emmanuel

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