Cost of international flights increases as IATA sets new rate at $1/₦770

International flights on Nigerian routes will see ticket prices rise after the IATA hiked the dollar exchange rate from $663 to 770 per dollar.Following the FG's recent decision to unify the naira, the International Air Transport Association (IATA) pegged $1 to 770 on Wednesday, June 21, 2023. According to Yinka Folami, Vice President of the National Association of Nigeria Travel Agencies (NANTA), in an interview with The Sun, the pricing of the dollar at the Investors and Exporters (I&E) window is a crucial factor determining the cost of foreign flights from Nigeria. "Naira sold for 680 to one dollar a few days ago, and it sold for over 700 yesterday." The prices are then set by the international airlines. The foreign airlines then fix the prices based on what is available from the Central Bank of Nigeria (CBN).” He said.