The Central Bank of Nigeria (CBN) pursued a tight monetary policy in order to preserve exchange rate stability which has contributed to high interest rates. The official exchange rate was set at N305/US$. However, the convertible Investors and Exporters window, to which the parallel market rate remains aligned, traded at a 20 percent premium over the official exchange rate at N360/US$. Poverty and unemployment rates have also increased. The national poverty rate is 53.5 percent, and unemployment and under employment rates continued to increase in the first three quarters of 2017.