On Wednesday, the 14th of June 2023, Nigeria called to unify exchange rates. Nigeria had an official rate, a parallel or black-market rate and the investors and exporters (I&E Window) among other exchange rates. In this video, I aim to explain the new exchange rate policy adopted by Nigeria and what it means for you. #FinanceFriday #ExchangeRate

CHAPTERS:

0:00 - Introduction
0:37 - What is an Exchange Rate
1:09 - Floating and Fixed Rate
2:27 - What is the Purpose of Naira Unification
5:11 - What are the Changes Made?
7:45 - What is the Impact of this Policy?

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Sources:

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https://leadership.ng/just-in-tinubu-...

https://blogs.worldbank.org/voices/pa...

https://edition.cnn.com/2022/08/18/af...