Tag Archives: exchange rate

  The naira has maintained its downward trend as scarcity of the dollar bites harder, findings by The PUNCH have revealed. At the parallel market, naira commenced trading at 1,175/$ and closed at 1,190/$ on Friday. Two weeks earlier, the naira had traded at 1,100/$ at the parallel market. It, however, appreciated slightly on the Investor & Exporter forex window after it ...

The lingering foreign exchange scarcity in the country has continued to worsen even as the exchange rate on the parallel market is inching towards N590/$1, The PUNCH has learnt. The development may lead to massive job loss in the manufacturing industry, among other sectors, according to the Manufacturers Association of Nigeria. The development comes over eight months after the Central Bank of ...

By Isidore Emeka Uzoatu The parachute has always featured in the Nigerian story. What with it being the magic wand that had been used to drop the first federal troops in Biafran territory. Thus, it can be argued that it was the prime saviour of our federation at its most dire of moments. Never mind that prior to then, the ...

The naira exchanged to the dollar at 503 at the parallel market on Friday according to the Bureau de Change operators. Figures obtained from naijbdcs.com, the official website for the licensed BDCs by the Central Bank of Nigeria showed that the naira was bought and sold for 502 and 503.5. The naira had earlier traded at 504/$ early in July. ...

Businesses lament, knock govt over poor inflation management Barely four days to the end of the year 2020, the Central Bank of Nigeria has disclosed that a survey carried out by its Statistics Department revealed that the naira is expected to depreciate further in January 2021. The report, titled, ‘December 2020 Business Expectations Survey Report’ added that there might also ...

The naira exchanged to the dollars for N440 in the parallel market on Thursday, despite the resumption of forex sales to the Bureau de Change Operators on Monday. The naira had last week dropped from N480/$ to N420/$, following the Central Bank of Nigeria’s announcement to resume forex sales to the BDCs. In a circular by the CBN, it stated ...

The naira exchanged to the dollar at the parallel market at N420/$ on Wednesday, following the interventions made by the Central Bank of Nigeria in the Investors and Exporters window. Prior to CBN’s renewed intervention in the I&E window on Monday, the naira exchanged for as high as N480 to the dollar. Speculators in Nigeria’s foreign exchange market would count ...