Tag: Exchange Rate
Naira Appreciates Against the Dollar in the Parallel Market
The Nigerian naira recorded a significant increase against the United States dollar in the parallel market, marking a notable recovery from its previous downtrend. Bureau[more...]
Businesses Threaten Legal Action Against Banks Over Forex Non-payment
Several businesses under the Organised Private Sector of Nigeria (OPSN) are mulling over the possibility of taking legal action against commercial banks due to the[more...]
Naira Strengthens as Nigeria’s External Reserves Rise
The Naira, Nigeria's official currency, witnessed a positive shift in its value as the country’s external reserves surged, providing support to the Central Bank of[more...]
Naira Depreciation Leads to Increase in International Airfares in Nigeria
The depreciation of the Naira against the United States dollar by 55 per cent at the official foreign exchange market has led to a commensurate[more...]
The Painful Plunge of Nigeria’s Naira: Struggle and Despair
The Nigerian Naira is grappling with a tumultuous journey in the foreign exchange market. Despite a slight appreciation against the US dollar, the currency's ongoing[more...]
Naira Undervalued and Petrol Prices to Fall: CBN Governor’s Projections for 2024
Central Bank of Nigeria Governor, Olayemi Cardoso, delivered pivotal insights at the launch of the Nigerian Economic Summit Group (NESG) 2024 Macroeconomic Outlook Report. The[more...]
Naira Hits Record Low against Dollar
The Nigerian naira saw its worst performance in history on December 8, 2023, closing at N1,009.05 per dollar at the Nigerian Autonomous Foreign Exchange Market[more...]
Nigeria’s Economic Challenges in 2023: A Year of Financial Strain
--- Amidst a series of economic challenges, 2023 has proven to be a year of financial strain for Nigerians. From the chronic shortage of cash[more...]
Naira Plunges to Record Low Against Dollar on Official Market
The naira weakened to an unprecedented level against the dollar on the official market, nearly reaching the exchange rate on the unofficial parallel market. Data[more...]
