How a Dollar Can Exchange for N160 in Nigeria, by Prof. Ahmed Adamu
The recent free fall of the Naira, plummeting from N460 to a staggering N1,600 at the official rate, has cast a dark shadow over Nigeria's economic landscape. With inflation soaring from 22%...
Naira Appreciates to 1,468 per Dollar as MPC Meets
After weeks of free fall, the Naira has finally made a comeback against the US dollar, reaching a new high of 1,468 in the official market.
According to Economic Confidential findings at the parallel market, the average...
Naira Gains at Autonomous FX Market, Banks Sell $172m
The naira gained marginally against the United States dollar at the Nigerian Autonomous Foreign Exchange Market on Tuesday, closing at N1,542.58/$ from N1,551/$ recorded on Tuesday.
The rate represents a 2.9 per cent appreciation from the N1,598.54...
More Hardship For Nigerians As Naira Hits Record Lows, Stocks Plunge
The Nigerian naira fell to record lows on both the official and unofficial markets on Monday, while stocks posted their biggest one-day fall in more than a year, as jittery investors sold off local...
Naira Falls Further, Exchanges for N1,673/$, N2,000/1£ at Parallel Market
Nigeria’s currency is currently exchanging above 2,000 naira against the Great Britain Pound at the parallel market.
The new rates were confirmed on Monday by Bureau de Change operators in the Federal Capital Territory, Abuja, with...
Dollar Sales Drop by 74% to $84.1m
Dollar sales by Deposit Money Banks and other entities at the Nigeria Autonomous Foreign Exchange Market dropped by $252m to $84.1m on Friday.
This represents a 74 percent drop from the $331.1m transactions recorded at the official Nigeria Autonomous...
