currency depreciation
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![Today's Naira Rate[05-09-2024]: Urgent Reforms Needed as Naira Hits New Low of N1,639.41 Against Dollar](/data/attachments/208/208013-2a546975747c9bbf4d31db0627e3dd8b.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate[05-09-2024]: Urgent Reforms Needed as Naira Hits New Low of N1,639.41 Against Dollar
The naira plummeted to N1,639.41 per dollar in the official market, marking a significant decline of N34 from the previous day. The black market rate also fell, reflecting broader economic instability and inflation concerns, prompting calls for urgent government reforms to stabilize the...- Nigeria News
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- 1 min read
- black market rate currency depreciation exchange rate
- Category: Business
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![Today's Naira Rate[04-07-2014]: CBN's Efforts Pay Off as Naira/Dollar Exchange Rates Align at N1,520 in Parallel and Official Markets](/data/attachments/205/205799-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate[04-07-2014]: CBN's Efforts Pay Off as Naira/Dollar Exchange Rates Align at N1,520 in Parallel and Official Markets
The naira/dollar exchange rate in Nigeria converged at N1,520 across both official and parallel markets. This significant alignment, driven by the Central Bank of Nigeria, aims to stabilize the naira and enhance market transparency. The change is expected to impact import costs, inflation rates...- Nigeria News
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- 1 min read
- black market currency depreciation nigerian naira parallel market
- Category: Business
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![Today's Naira Rate [29-05-2024]:Nigerian Naira Reverses Course, Dives to N1,329.65/$1 Despite Recent Surge](/data/attachments/204/204434-6e202405f2f497d63440ce71bc64dc98.jpg?hash=biAkBfL0l9)
Nigeria Today's Naira Rate [29-05-2024]:Nigerian Naira Reverses Course, Dives to N1,329.65/$1 Despite Recent Surge
The Nigerian Naira faced a sharp decline, falling to N1,329.65 against the US Dollar despite recent gains and CBN interventions. The abrupt reversal raises concerns about currency stability and prompts questions about the effectiveness of central bank measures. Market observers remain vigilant...- Nigeria News
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- 1 min read
- central bank of nigeria currency depreciation exchange rate foreign exchange market nigerian naira
- Category: Business
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![Today's Naira Rate [14-05-2024]: Naira Depreciates to N1,520.40 Against USD, Amid Forex Shortage](/data/attachments/203/203959-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [14-05-2024]: Naira Depreciates to N1,520.40 Against USD, Amid Forex Shortage
The Nigerian Naira depreciates to a two-month low against the US dollar, hitting N1,520.40 at the official foreign exchange market. With a shortage of dollars affecting the market, the currency faces challenges, reflecting economic complexities. Analysts attribute the downturn to various...- Nigeria News
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- 1 min read
- currency depreciation fmdq securities exchange forex market nigerian naira usd exchange rate
- Category: Business
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![Today's Naira Rate [10-05-2024]: Nigerian Naira Hits One-Month Low of 1,470 Against Dollar Amidst Economic Turbulence](/data/attachments/203/203812-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [10-05-2024]: Nigerian Naira Hits One-Month Low of 1,470 Against Dollar Amidst Economic Turbulence
Nigeria's naira plunges to a one-month low of 1,470 against the dollar on the black market. Discover the factors driving this decline, including dollar shortages and speculative trading, and explore expert insights on potential solutions to stabilize the currency amidst growing concerns. The...- Nigeria News
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- 2 min read
- black market currency depreciation dollar shortage forex market naira to dollar exchange rate nigerian naira
- Category: Business
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![Today's Naira Rate [05-05-2024]: Naira Weakens to 1,430 Against USD as Demand for Foreign Currency Skyrockets](/data/attachments/203/203661-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [05-05-2024]: Naira Weakens to 1,430 Against USD as Demand for Foreign Currency Skyrockets
Amidst rising demand for foreign currency, the Nigerian Naira depreciates to 1,430 against the US dollar on the parallel market, signifying a 5.49% decline. Factors driving this include increased demand for travel and education. Analysts anticipate stability within the current band. Explore the...- Nigeria News
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- 1 min read
- currency depreciation foreign exchange market nigerian naira parallel market usd to ngn
- Category: Business
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![Today's Naira Rate [25-04-2024]: Nigerians Express Concern as Naira Weakens to N1,400/$](/data/attachments/203/203287-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [25-04-2024]: Nigerians Express Concern as Naira Weakens to N1,400/$
The Nigerian Naira faced significant depreciation, falling to N1,400 against the US dollar on the black market, fueled by intensified demand pressure in the foreign exchange (FX) market. This represents a 19.64 percent loss in just two weeks compared to the rate of N1,125 per dollar recorded...- Nigeria News
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- 1 min read
- central bank of nigeria currency depreciation foreign exchange market nigerian naira todays exchange rate
- Category: Business
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Nigeria Naira's Downward Spiral: Despite CBN Intervention, Dollar Reigns Supreme in Forex Market
Despite recent efforts by the Central Bank of Nigeria (CBN) to bolster the Naira's value through additional forex injections, the currency continues to struggle against the US Dollar. FMDQ data reveals a further depreciation of the Naira to N1308.52 per Dollar on Wednesday, down from N1,300.15...- Nigeria News
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- 1 min read
- bdc bureau de change cbn central bank of nigeria currency depreciation forex market us dollar
- Category: Business
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Nigeria Naira Rate: Bloomberg Africa Report On Nigeria's Depleting FX Reserves Points to Tougher Ride Ahead
Nigeria's foreign exchange reserves are dwindling at a rapid pace, sparking concerns over the Central Bank's strategy to prop up the naira amidst promises of a more flexible exchange rate. In a span of just under a month, from March 18 to April 12, liquid reserves plummeted by 5.6%, plummeting...- Nigeria News
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- bloomberg report central bank of nigeria covid-19 currency depreciation naira stability nigeria forex reserves
- Category: Business
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Nigeria Statisense Report: Naira Plummets Among Top 15 Worst Currencies Against US Dollar
The Naira has been listed among the 15 worst-performing currencies against the US Dollar, according to Statisense by References1. The report, dated March 18, 2024, highlights the year-on-year loss against the USD for various currencies. Lebanon tops the list with a staggering -497%, followed by...- Nigeria News
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- 1 min read
- currency depreciation exchange rate today naira naira devaluation us dollar
- Category: Business
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Nigeria Economic Jitters as Naira Depreciates to N1,500: Parallel Market Struggles Against Dollar
The Nigerian naira witnessed a 3.45 percent depreciation on Wednesday, plummeting to N1,500 against the dollar in the parallel market. This marks a decline from the N1,450 recorded just two days prior, leaving currency traders, also known as Bureau De Change operators, with a narrow profit...- Nigeria News
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- 1 min read
- cbn currency depreciation forex market naira to dollar exchange rate nigerian naira
- Category: Business
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