Tag: exchange rate
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CBN assures of stability in exchange rate
The Central Bank of Nigeria (CBN), has assured of stability in naira/ dollar exchange rate. The CBN Governor Mr Olayemi Cardoso, said this at an interface with the Senate Joint Committee on Banking and Insurance in Abuja on Friday.
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Naira appreciates slightly against US Dollar
Nigerian currency, Naira has again appreciated against the US dollar at the foreign exchange market. FMDQ’s official data showed that the country’s currency appreciated to N791.25 against the dollar at the close of work on Friday, compared to N841.14/$1 on Thursday.
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Again, Naira depreciates, banks hit by dollar shortage
The Naira has continued to depreciate against the dollar on the Investors and Exporters (I&E) and parallel markets. The data and information gathered from both segments showed. Findings show that the currency has lost N100 after sliding from 860/$ to 960/$ at the parallel market as of Friday.
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Unification of exchange rate will attract investors, boost capital market growth – ICAN
The Institute of Chartered Accountants of Nigeria (ICAN) has noted that the unification of the exchange rate in the country will aid the growth of the securities market and attract foreign investments to Nigeria. According to INEC, the previously adopted model, known as the double-window exchange contributed negatively and fueled high inflationary pressure, corruption, high…
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Naira continues to depreciate
The Naira on Wednesday depreciated against the dollar at the investors and exporters window, exchanging at N763.17.
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Unified Exchange Rate: International airfares rise
Owing to the increase in the exchange rate in the country, the prices of airfares from Nigerian routes to destinations outside the country have also increased significantly. The increase in airfares arose as a result of currency floating recently embarked upon by the country’s apex bank, the Central Bank of Nigeria (CBN).
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Naira plunges to new low by 16.19%
The Naira on Monday depreciated against the dollar at the Investors and Exporters window, exchanging N770.38 to the dollar.
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Currency floating: Dangote, Nigerian billionaires lose massively as Naira falls to 702/$
Following the Central Bank of Nigeria’s unification of exchange rate, the naira traded at 702.19/dollar at the close of business on Thursday. Nigeria has allowed for a free float of the national currency against the dollar and other global currencies. The naira has now lost about five percent of its value within 24 hours from…
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Naira appreciates slightly after Tinubu’s inauguration
The Nigerian currency, naira appreciated slightly yesterday upon the assumption of Nigeria’s newly sworn-in president Bola Tinubu. The black market opened on Monday at N763 against the US dollar but dropped by N9 at the close of trade. Prices at Zone 4, a popular Bureau de Change hub in Abuja closed between N755 and N754…
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Naira begins new week on negative note
The Naira depreciated against the dollar on Monday, exchanging for N464 at the investors’ and exporters’ window. The rate represented a decrease of 0.36 per cent when compared to the