Naira Declines Further, Exchanges For 483/$ Over Speculation
The naira exchanged to the dollar for 483 in the parallel market on Monday.
This was despite the regular interventions in terms of forex injections by the Central Bank of Nigeria.
Bureau de Change operators have blamed the depreciation...
Naira Weakens Further As Dollar Sells For 478
The naira extended its decline on Wednesday at the parallel market as the United States dollar was sold for N478.
The local currency, which traded at N475 per dollar on Tuesday, has come under pressure in recent days....
Naira Plunges To 475 As Dollar Demand Rises
The naira weakened further on Monday, trading at 475 to the United States dollar in the parallel market amid a rise in demand for the greenback.
The local currency, which has come under pressure in recent days, fell...
Naira May Depreciate To 475/$, Says Rewane
The naira will weaken in the parallel market as oil prices stay at $40-$42 per barrel and likely depreciate to 470-475 against the dollar in November and December, the Managing Director/Chief Executive Officer, Mr Bismarck Rewane, has said.
Rewane...
Naira Gains, Exchanges For N457/$
The naira gained slightly, as it exchanged to the dollar at N457/$ at the parallel market on Tuesday.
It had earlier exchanged at N465/$ a week earlier.
The President, Association of Bureaux De Change Operators, Alhaji Aminu Gwadabe, said, “The intervention sales...
Manufacturers’ Outstanding Dollar Demands Hit $729,450,430
The inability of manufacturers to access foreign exchange for the importation of raw materials, equipment and machinery has led to a backlog of dollar-denominated letters of credit valued at $729,450,430.
Data obtained from the Manufacturers Association of Nigeria showed that...
