BREAKING: CBN holds interest rate at 11.5%, confirms N410.25/$ as new official exchange rate

The Central Bank of Nigeria’s (CBN) monetary policy committee has voted to keep the monetary policy rate at 11.5 percent.

The CBN governor, Godwin Emefiele, declared the committee’s decision at the end of a two-day meeting at the CBN headquarters on Tuesday.

The liquidity ratio was also held at 30% and the cash reserve ratio (CRR) was kept at 27.5 percent by the committee.

The Central Bank of Nigeria also made the N410.25 NAFEX Investor & Exporter forex window rate its official exchange rate to the dollar.

After removing N379/$ earlier in May, it announced this new official rate on its website on Monday night.

The Punch had exclusively announced a few weeks ago that the naira had officially depreciated to N410/$, citing Central Bank Governor Godwin Emefiele.

Details shortly…