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Forex crisis: Passengers groan as foreign airlines hike fares - Vimarsana News

Forex crisis: Passengers groan as foreign airlines hike fares

About two weeks after President Bola Tinubu promised to unify the nation’s multiple exchange rates, the apex bank decided to float the naira at the Investor’s and Exporters’ Window of the foreign exchange market. Since then, the naira had fallen from N471/dollar to N867/$.

[AVIATION] Forex crisis: Passengers groan as foreign airlines hike fares - Vimarsana News

[AVIATION] Forex crisis: Passengers groan as foreign airlines hike fares

Apiaka recounted the challenges she faced, stating, “The recent increase and fluctuation in foreign currency has affected my travelling plans, especially considering the amount I had originally budgeted for the process. I had to go back to my drawing board to replan and find the best way to achieve my travel goal. This meant cutting down on a lot of expenses, including food, clothing, and family-related costs, in order to meet the current exchange rate and make the most of every penny I have.”