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

The Federal Government through the Central Bank of Nigeria has again raised the exchange rate for cargo clearance to N1,605/$.

This is coming days after the rate rose to N1515/ $ and later dropped to N1,472.

Between January and now, the rate has risen a couple of times. It was moved from N952/$ in December to N1356/$. And was moved to N1,413/$ before it went to N1,444/$. The rate moved to N1,515 before finally getting to N1.605.

When our correspondent visited the portal of the Nigeria Customs Service on Wednesday, it was observed that the new rate was reflected on the portal.

SOURCE: PUNCHNG