Besides the official exchange rate, used mainly for government transactions and the budget, Nigeria maintains a number of other rates. The rate for investors and exporters, known as Nafex, also acts as a spot rate for the naira. This rate has averaged 388 naira per dollar since March. There is
```
Members Only

Login or create an account to continue

This article is available to registered BusinessDay readers. Please login if you already have an account, or create a new account to continue reading.

New to BusinessDay? Register now and start reading.

```

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp