Inflation hits 17.6%, thus Naira tumble against USD

The Naira on Friday depreciated in most major segments of the foreign exchange market just as inflation hits 17.6 percent. The Nigerian currency fell by N2.24 to exchange at N308.69 to the dollar at the interbank market, from N306.93 recorded on Thursday. At the Bureau De Change it closed at N420 to the dollar, N550 […]

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Naira tumbles to 390 against USD in the parallel market

The Nigeria Naira continued its slide on Wednesday, dropping to 390 against the USD at the parallel market as foreign exchange scarcity persisted. Naira, which dropped to 382 against the United States dollar on Monday down from the 380 on Friday, had been little-changed on Tuesday, hovering between 381 and 382. A bureau de change operator […]

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Naira tumbles to 360 as demand for U.S dollar rise

The Nigeria Naira weakened further on Friday, trading at 360 to the United States dollar at the parallel market, amid a rise in demand for dollars by fuel importers. According to Punchng, The local currency stood at 341 at the unofficial market on Thursday, a day after the Federal Government announced the removal of fuel […]

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Naira freely downsizes to N391 against the Dollar

The Nigera Naira freely fell at the parallel market on Thursday, hitting 391 against the US. Dollar as foreign exchange scarcity continues to batter Africa’s biggest economy. The currency appears to have entered into a free fall mode against the dollar at the black market, having lost 26 per cent of its value in less than two […]

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Nigeria Naira tumbls low as N345 against Dollar

NIGERIA Naira tumbled to a record low of 345 against the dollar at the parallel market on Monday, extending its depreciation from nine to 11 per cent in less than two weeks. The naira had hit a record low of 338 against the greenback on Friday, a day after the Bankers’ Committee announced plans to […]

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