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Business Naira Becomes Worst Performing Currency Among 150 Currencies Globally [Bloomberg]
The naira is the worst performing currency this year among more than 150 currencies globally, the Bloomberg media has said. It has depreciated 37 percent against the dollar, 44 days since the Central Bank abandoned its peg on June 20, while bond yields have jumped to more than 20 percent. The...- ProfRem
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Business Naira Watch: Tracking Nigeria's Currency [Day 40]
The naira on Wednesday further dropped at the interbank market to 326. 75 t a dollar, forty exact day the Central bank of Nigeria introduced the flexible exchange rate policy. The naira weakened to 324.20 to a dollar on Tuesday against its closing rate of N320 to the dollar on Monday, according...- ProfRem
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Business Naira Watch: Tracking Nigeria's Currency [Day 14]
Nigerian Naira, Tuesday tumbled at 283.75 to a US dollar, fourteen official business day after the Central Bank of Nigeria removed peg on the country's currency rate. Naira closed 282.25 to a United States Dollar on Monday according to data retrieved from Bloomberg news. At the close of the...- ProfRem
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Business CBN Float: Foreign Investors Want Naira To Fall Above N300/US Dollar
Foreign traders are expecting Nigeria’s currency devaluation to trigger a rush of cash into Africa’s largest economy are rapidly concluding that the naira’s 30 percent drop wasn’t enough. Investors got the foreign-exchange policy change they asked for, but still aren’t flocking to buy naira...- ProfRem
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Business Naira Watch: Tracking Nigeria's Currency [Day 7]
Nigerian Naira, Tuesday depreciated against the dollar, trading at 282.75 to a US dollar, seven official business day after the Central Bank of Nigeria removed peg on the country's currency rate. This is coming a day after Nigeria's President, Muhammadu Buhari stated that he sees no benefit in...- ProfRem
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Business Naira Watch: Tracking Nigeria's Currency [Day 5]
Nigerian Naira on Friday maintained gain .5% against US Dollar at the inter-bank market, five days into the flexible exchange rate policy of the Central Bank of Nigeria. Naira traded 280.10 to United States Dollar as of 12:30pm in Lagos, nation’s commercial hub, according to data retrieved from...- ProfRem
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Business Naira Watch: Tracking Nigeria's Currency [Day 4]
Nigerian Naira on Thursday gained 1.25% against US Dollar at the inter-bank market, day four into the flexible exchange rate policy of the Central Bank of Nigeria. Naira traded 1.5% to 284 to United States Dollar as of 2:30pm in Lagos, nation’s commercial hub, according to data retrieved from...- ProfRem
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Business Naira Watch: Tracking Nigeria's Currency [Day 3]
Nigerian Naira steady against the United States dollar on the third day of the peg off regime of the Central Bank of Nigeria. Related: Naira Watch: Tracking Nigeria's Currency [Day 2] Day 2 closed at N284.50 Today Open: N282 High Rate: N286 Low: N280.50 Close: N282.50 The central bank...- ProfRem
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Business Naira Falls 0.5% to 286/USDollar Despite CBN’s $100m Intervention
Naira fell for a third day of trading without a peg, even after the nation’s central bank said it was confident it had cleared a backlog of foreign-currency demand. The naira fell 0.5 percent to 286 per dollar by 8:40 a.m. in Lagos, the commercial capital, after weakening 0.7 percent Tuesday...- ProfRem
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Business Naira Watch: Tracking Nigeria's Currency [Day 2]
The naira plunged by 31 per cent to 288.85 against the United States dollar on Monday at the close of trading at the newly established interbank market. The local currency also depreciated at the parallel market where it closed at 346 to the greenback, down from around 330 and 335 on Friday...- ProfRem
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Business Naira Weakens to N253/Dollar at the Interbank Market
Nigeria’s naira weakened 22 percent to 253.50 per dollar after the central bank allowed the currency of Africa’s biggest economy to float freely on Monday. Demand for foreign currency has built up to about $3 billion since capital controls were imposed 15 months ago to defend the currency’s peg...- ProfRem
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Business CBN Kicks Off Flexible Exchange Rate
The Central Bank of Nigeria (CBN) finally commences the much-awaited market-driven flexible exchange rate regime to ease the foreign exchange (Forex) scarcity in the country, today, Monday 20, 2016. The new policy has been endorsed by various financial analysts who see it as the final solution...- ProfRem
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Business Naira Forwards Rise On Announcement of Flexible Exchange Rate
Nigerian Naira forwards rose to 6-month non- deliverable 2.2% to 275 against the US Dollar at 4.38pm yesterday in London, according to a data obtained from the Bloomberg terminal after the Central Bank's Monetary Policy Committee voted to allow “greater flexibility” with exchange rate. The...- ProfRem
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