Tag: exchange rate
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Ease monetary policy, stabilize exchange rate to stop inflation, Don advises CBN
An Economist, Prof. Sheriffadeen Tella, on Thursday called on the Central Bank of Nigeria (CBN) to ease its monetary policy and stabilise the exchange rate to stem the nation’s rising inflation. Tella, who works at the Department of Economics, Olabisi Onabanjo University, Ago-Iwoye, Ogun, gave the advice in an interview with the newsmen in Lagos.…
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Forex: Naira may exchange N500 to $1
Following a persistent scarcity of the dollar and the Central Bank of Nigeria, CBN recent cut of supply to foreign exchange operators, the naira has continued to depreciate and may exchange for 500 Naira to one United States dollar at the parallel market from this week. The local currency was trading around N495 to…
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CBN to eliminate official, black market exchange rate gap soon – Adeosun
The Minister of Finance, Mrs. Kemi Adeosun has said the Central Bank of Nigeria, CBN is poised to eliminate the huge difference between the official and black market exchange rates against the dollar. According to Reuters, the naira is trading on the parallel market some 40 per cent lower than the official rate as low…