The naira dropped against the United States dollar from 498 to 500 at the parallel market during the early trading hours on Monday, crossing the critical threshold currency analysts had predicted. Foreign exchange traders linked the development to relative scarcity of the greenback in the...

The Central Bank of Nigeria, CBN, in June 2016 formally unveiled the much-awaited flexible foreign exchange policy that would allow the foreign exchange interbank trading window to be driven purely by market forces. The policy was designed to effectively remove controls on the naira, allowing...

The naira fell to 497 against the United States currency at the parallel market on Friday as dollar shortages continued to hit the market. Economic and currency experts have predicted that the naira will likely depreciate to over 500 per dollar this year. The President, Association...

The naira fell further against the United States dollar at the parallel market on Friday to 493, from 490 on Thursday as increased dollar demand weighed on the market. Forex traders said the local unit plummeted following an increased demand for the dollar and other...

The Naira on Wednesday weakened to N490 to a dollar at the parallel market after appreciating to N485 to a dollar during the Christmas break. The News Agency of Nigeria (NAN) reports that the Naira lost 5 points, representing a depreciation of 1.03 per cent,...

The Naira on Wednesday fell further to N492 to a dollar at the parallel market, from N490 it closed on Tuesday, the News Agency of Nigeria (NAN) reports. The Pound Sterling and the Euro closed at N605 and N505 respectively. At the Bureau De Change (BDC)...