The central bank of Nigeria has devalued its official exchange rate by 5.5% to 381 naira to the dollar from 360 naira.
Thats according to data on the website of FMDQ OTC Securities Exchange.
The currency depreciation comes after CBN Governor Godwin Emefiele announced last month that the bank plans to unify its multiple exchange rates to improve the transparency of its currency-management system.
The central bank also devalued the currency in March, when it adjusted the official peg against the dollar to 360 naira from 307 NAIRA.
Investors and the International Monetary Fund have long called on Nigeria to merge its multiple exchange rates as the absence of a single rate deters foreign investment.