Naira Strengthens, Exchanges for 815/$ at Official Market
The naira strengthened to N815/$ at the Nigerian Autonomous Foreign Exchange Market( NAFEM) 24 hours after the exchange rate fell to the lowest level ever when it sold N993.8/$, representing a massive 20.5% depreciation.
Before now, the lowest...
Dollar Falls by 8.39% on Parallel Market
Foreign exchange (FX) speculators are now counting losses as the dollar has fallen by 8.39 percent on the parallel market, following some government-announced policies.
From the lowest of N1,310 per dollar, naira has strengthened to N1,200/$1 on the black...
Naira Slumps Further , Exchanges 1,190/$
The naira has maintained its downward trend as scarcity of the dollar bites harder.
At the parallel market, naira commenced trading at 1,175/$ and closed at 1,190/$ on Friday.
Two weeks earlier, the naira had traded at 1,100/$ at the parallel...
Naira Hits All-time Low, Exchanges for 1,100 to a Dollar
The Naira has fallen to an all-time low as it now exchanges for N1,100 per dollar in the black market.
This is according to information obtained on Wednesday morning, from traders in the parallel market .
The...
'Naira Under Pressure, Nigeria May Seek Dollar Loan'
The International Monetary Fund (IMF) has said the naira is currently under pressure and Nigeria is free to seek loan from the Fund to stabilise the currency if it considers a good option.
The Washington-based lender however noted...
Dollar Supply Jumps After CBN Lifts Ban on Forex Sale
Dollar supply at the foreign exchange (forex) market reportedly soared after the Central Bank of Nigeria (CBN) scrapped restrictions on buying foreign currency required to import 43 items, in a bid to stem the local...
