In Kubwa: CBN says Banks to face sanction for denying Travellers Forex, cuts Exchange Rates from 7 to 4

The four operational rates are: the Nigerian Autonomous Foreign Exchange Rate Fixing (NAFEX) which is at N410.93/$, Investor and Exporter FX Window (IEFX) which is at N410.75/$, parallel market rate which is N502/$ and International Air Transport Association (IATA) rate at N420/$.