For the umpteenth time, Air fares on the International routes would be adjusted following an increase in the airlines’ rate of exchange, checks by Daily Trust have shown.
The International Air Transport Association (IATA) had informed stakeholders that the IATA exchange rate would change from N776.90/$1 to N803.90/$1.
The rate is determined by the Importer and Exporter (I&E) window which closed at N803 to a dollar on Monday.
But the rate determined by the market forces is expected to improve on Wednesday, decreasing to N795 to a dollar.
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President of the National Association of Nigerian Travel Agencies (NANTA), Mrs. Susan Akporiaye, who confirmed the development to our correspondent, said there was no need to panic as the rate continues to fluctuate.
Daily Trust reports that Nigeria has witnessed a spike in Air fares on the international routes over the naira depreciation as well as the trapped foreign airlines’ funds.
