Airfares in Nigeria to various international destinations have witnessed a significant surge as the exchange rate for ticket pricing has reached N702 per dollar. This surge in airfare follows the recent devaluation of the naira by the Central Bank of Nigeria (CBN) and its directive to commercial banks to sell foreign exchange at market-determined rates.

The CBN implemented new foreign exchange guidelines aimed at unifying the country’s forex rate and eliminating multiple exchange rate windows. As part of this move, the apex bank consolidated all forex windows into the Investors and Exporter (I&E) window. According to reports from RateCaptain’s financial analyst, the naira traded at N664.04 per............

https://ratecaptain.com/nigerias-airfares-soar-as-exchange-rate-hits-n702-per-dollar/