Just in: Naira Crashes to N710 to a Dollar The Nigerian naira has crashed further in the parallel market, trading for N710 against the U.S. dollar on the exchange platform Aboki Forex. Checks by Economic Confidential on Wednesday showed the current parallel market rate pegged at...

Naira Crash Due To Higher Dollar Demand, FX Supply Gaps   The naira crash to about N630 to dollar at the parallel market has been linked to higher dollar demand and foreign exchange (FX) supply constraints. However, the dollar to naira exchanges at N415.75 to one dollar,...

CBN To Sanction Customers Converting Naira To Dollar   The Central Bank of Nigeria (CBN) yesterday read the riot act to bank customers, especially politicians, converting naira to the dollar as electioneering spending spike. The CBN, which also raised interest rate from 13 per cent to 14...

Foreign Reserves Records Slight Gain As Naira Weaken To N430/$ On I&E Window   The value of the naira weakened to N430 to the dollar at the Investors’ and Exporters’ window at the end of business last week even as the Nigeria’s external reserves gained slight...

Naira Remains Constant, Exchanges At 421/$   The Naira on Tuesday remained constant at exchanging at 421.00 to the dollar for the second day at the Investors and Exporters window. The local currency remained unchanged at 421.00 to the dollar, same as the 421.00 traded on Monday. The...

Naira Slides As Forex Reserves Drop Third Consecutive Time   The naira depreciated to N588 per dollar at the parallel market as the nation’s foreign exchange (forex) reserves dropped for the third consecutive time. Trading reports at the weekend showed that naira depreciated by 0.9 per cent...