The Naira on Wednesday depreciated further against the dollar, amid last minute perfection of documentation by Bureau De Change (BDC) operators, the News Agency of Nigeria reports. The Nigerian currency lost one point to exchange at N394 to the dollar at the parallel market; while it traded at N505 and N440 against the Pound Sterling […]
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The naira plunged to 400 against the dollar at the parallel market on Thursday as shortage of foreign exchange continued to have negative effects on economic activities in the country. The local currency had closed at 390 against the greenback on Wednesday. After closing at around 378 against the dollar for most part of last week, […]
Read More The continuing pressure on the Nigeria naira rose sharply on Wednesday with the local currency tumbling to a new low of 371 against the United States dollar at the parallel market. It had closed at 361 per dollar on Tuesday. The delay by the Central Bank of Nigeria in explaining how the proposed flexible exchange […]
Read More CONTINUAL scarcity of foreign exchange, especially the US. dollar, continued on Wednesday with the Nigeria naira closing at 372 against the United States currency at the parallel forex market. Forex dealers linked the persistent fall of the naira to panic buying of the dollar and other major international currencies by importers, individuals and businessmen. With the […]
Read More NIGERIA Naira hit a record low of 325 to the dollar at the parallel market on Thursday as desperate importers scrambled for dollars to meet their obligations overseas. The local currency had closed at 318 against the greenback on Wednesday, after hitting 313.5 and 310 on Tuesday and Monday, respectively. “The dollar is falling because […]
Read More The Nigeria Naira dropped further to 313.5 against the United States dollar at the parallel market on Tuesday as shortage of foreign exchange, especially the greenback, persists in the forex markets. The local currency had traded for 310 to a dollar on Monday. On Tuesday, the naira closed at 199.40 to the dollar on the […]
Read More Economic and financial experts on Wednesday expressed divergent views on the latest decision of the Central Bank of Nigeria, but agreed that the economic crisis plaguing the nation had yet to be addressed. The CBN’s Monetary Policy Committee had on Tuesday decided not to devalue the naira and left the Monetary Policy Rate, Cash Reserve […]
Read More NIGERIA Naira has depreciated further against the United States Dollar on Wednesday, falling to 302 at the parallel market, down from 300 on Tuesday. The currency had sunk to a record low of 300 per dollar at the parallel market on Tuesday, a day after the Central Bank of Nigeria stopped dollar sales to Bureau […]
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