Exchange Rate For Cargo Clearance Hits N1,605/$

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

This comes days after the rate climbed to N1515/$ and then sank to N1,472.

Between January and now, the rate has jumped several times. It was changed from N952/$ in December to N1356/$. And was raised to N1,413/$ before dropping to N1,444/$. The rate rose to N1,515 before ultimately reaching N1.605.

When The PUNCH correspondent accessed the Nigeria Customs Service’s portal on Wednesday, the new rate was already reflected.