Nigeria's Naira firmed 1.1 percent to 510 on the black market, bureau de change (BDC) traders said, after the Central Bank of Nigeria (CBN) started to supply dollars for retail transactions in a bid to narrow the spread with the official exchange rate.
Most BDCs...
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 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 dropped against the United States dollar at the parallel market from 355 on Friday to 357 on Monday, foreign exchange traders said.
Analysts and traders linked the drop to the mounting fears among traders and investors over the flexible exchange rate policy proposed...
