The Naira is expected to depreciate further in 2013 as government is basing its medium term expenditure on an exchange rate of N160 to the dollar next year and beyond.
According to government official exchange rate estimate for the just submitted medium term expenditure framework of the government, the Naira will be officially exchanged at N160 in 2013, 2014 and 2015. As at today, the Naira exchange, at N156 to the dollar. At the inter-bank market the naira is currently exchanging at N156 to the dollar while at the open market it is being exchanged at N160 to the dollar.
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