Tag: Depreciation
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Naira depreciation is major problem in budget implementation in Nigeria – NJC
The National Judicial Council (NJC) on Wednesday said the depreciating value of the naira is a major problem in the implementation of the budget in the country. Ahmed Saleh Executive Secretary of the Council revealed this to the House of Representatives Committee on Judiciary during the appraisal of the NJC’s 2021 budget, as well as…
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Naira depreciates further against dollar, exchanges for N368/$1
The Nigerian currency, naira on Thursday continued to crash against the dollar at the parallel market. The currency lost one point to exchange at N368, weaker than N367 posted on Wednesday, while the Pound Sterling and the Euro closed at N478 and N432. At the Bureau De Change (BDC) window, the naira was sold at…
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Again, Naira depreciates against dollar, exchanges for N370/$1
The naira on Tuesday failed to consolidate on its gains in recent weeks. It depreciated to N370 per dollar in the parallel market. The local currency has dropped N3 in just three days. It, however, recorded marginal appreciation in the Investors and Exporters (I&E) window. The indicative exchange rate dropped to N362.38 per dollar Tuesday…
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Naira depreciates further against dollar, now exchanges for N506/$1
The Naira reached its climax in its drop of value against the dollar on Friday (today) as it now exchanges for N506 to a dollar as against its initial exchange rate of N500 to a dollar recorded on Thursday. The free fall of the Naira against the Dollar appears unstoppable as the Nigerian currency traded…