The appreciation represents a 0.23 per cent increase from Monday’s rate, when the naira traded at N1,354.25 to the dollar.
He said this includes clearing backlogs of FX, increasing liquidity, and allowing the market to determine the exchange rate.
While Rwanda’s economic outlook “continues to be positive,” the statement pointed out that “risks remain tilted to the downside.”
CBN’s director in charge of financial markets, Omolara Duke, said this aims to promote stability and reduce volatility in the foreign exchange market.
The policy is aimed at raising $200 billion in foreign exchange earnings from non-oil proceeds over the next five years.
