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Tag: Naira
Naira Depreciates to N1040 Per Dollar on the Exchange Market
The parallel market exchange rate for the naira is now N1040. The depreciation, according to Forex dealers who spoke with Nairametrics, is the result of heightened scarcity, with the influx…
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Naira is one of Africa’s worst-performing currencies, according to the World Bank
The Nigerian naira is one of the worst-performing currencies in Africa, according to the World Bank. Since a devaluation in mid-June, the currency, according to the study, has fallen by…
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Dollar Value Drops To N930 Per Naira
On Thursday, the parallel market, an illegal foreign currency market, saw the naira drop to N930 to the dollar. The reason for this is because Nigerian banks are unable to…
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Dollar Now N850 At Parallel Market
On Wednesday's parallel market, the naira strengthened further versus the US dollar, closing at 850/dollar. The Central Bank of Nigeria stated its intention to intervene in the foreign exchange market…
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Naira drops further, exchanges at N945/$1
The Naira fell even more on Thursday in the black market, trading in Abuja at N945 to the dollar as opposed to N925 the day before. However, the Naira closed…
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CBN to Nigerians: Treat Naira with respect
The Central Bank of Nigeria CBN has decried the continued mutilation of Nigeria’s naira notes which it described as ‘a symbol’ of the nation’s pride. The banks Deputy Governor, Corporate…
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