naira news

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    Business Naira appreciates against dollar at parallel market – TODAY.NG

    The Naira on Tuesday gained 2.3 points to appreciate against the dollar at the parallel market in Lagos, the News Agency of Nigeria (NAN) reports. Read more via TODAY.NG – Get more: Nigeria Business News
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    Business Central bank restates N50,000 fine on sale, squeezing, spraying of Naira – TODAY.NG

    The Central Bank of Nigeria (CBN) has again called on Nigerians to handle the Naira with care, restating that the N50,000 fine on abuse of the currency stands. Read more via TODAY.NG – Get more: Nigeria Business News
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    Business Dollars pour into Nigeria as net inflow turns positive for first time since 2012 – Businessday

    More dollars poured into Nigeria than exited through the Central bank in 2017 for the first time since 2012, according to data compiled by BusinessDay and sourced from a report on the apex bank’s website that put net inflows at $12 billion. The $12 … Read more via BusinessDay : News you can...
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    Business Naira depreciates to 360.73/$ in I&E –

    The naira Wednesday depreciated to N360.73 per dollar for the first time this week in the Investor and Exporter window, prompted by a 16 percent decrease in dollar supply. Data from the Financial Market Dealers Quote (FMDQ) showed that indicative exchange rate for the window, known as Nigerian...
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    Business Naira Appreciates Marginally Against Dollar at Parallel Market

    The Nigerian Naira on Monday appreciated marginally against the US dollar, closing at 365 to one dollar at the parallel market. Trading had opened on Monday morning with the dollar going to 367 naira. The pound sterling and the Euro closed at N465 and N410, respectively. At the interbank...
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    Business Naira Appreciates To 372 Per Dollar At Parallel Market

    Nigerian naira on Monday appreciated against the three major currencies at the parallel market. this development is coming as the Central Bank of Nigeria (CBN) make steady interventions at the foreign exchange market to converge the rate between official and parallel market segments. The...
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    Business Naira Gained 1.6% Last Week, Climbed 3-month High Against Dollar

    Naira traded bullish last week gaining 1.57 per cent to exchange at N380 from N386 per dollar it opened on Monday in the parallel market. This development is coming as the CBN conducted its weekly Secondary Market Intervention Sales (SMIS) auction at the official foreign exchange market. CBN...
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    Business CBN Floods Forex Market With $457m

    The Central Bank of Nigeria (CBN) on Monday injected $457.3 million into various segments of the market. Isaac Okorafor, CBN spokesperson, in a statement in Abuja, said that both the spot and forwards segments garnered $267.3 million while the wholesale segment got $100 million. Okorafor said...
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    Business Naira Set to Appreciate Massively Against Dollar at Parallel Market

    The Nigerian naira is expected to massively appreciate against the dollar at the black market starting from next week. This is due to proposed increased sale of dollar to bureau de change operators starting from next week by the Central Bank of Nigeria, CBN. The CBN said it will raise dollar...
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    Business Naira is Overvalued- IMF

    The International Monetary Fund, IMF, on Wednesday stated that the Nigerian Naira is overvalued. Gene Leon, IMF mission chief for Nigeria, said this according to a report from Reuters. According to Mr. Leon, the naira overvaluation is “somewhere to the tune of 10 to 20 per cent.” This means...
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    Business Naira Continues Gain Against Dollar at Parallel Market

    The Nigerian Naira at the close of business on Tuesday consolidated its gain against the dollar at the parallel market. The currency traded at N455 (buying rate), N457 (selling rate) at the market, from the N455/460 it traded on Monday. The Pound Sterling and the Euro closed at N547 and...
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    Business Nigeria: Naira Appreciates Against All Major Currencies at Parallel Market

    The Nigerian Naira on Monday gained against the Dollar, Pounds and the Euros at the black market. The currency gained three points to exchange at N460 against the dollar, from N463 it opened trading on Monday. It also gained against the Pound Sterling and the Euro closed at N550 and 476...
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    Business CBN's Black Market Attack is Just a Stopgap Until FG Floats the Naira- Bloomberg

    According to a report from Bloomberg, the recent gains of the naira at the black market due to the flooding of the market with dollars by the CBN is only temporary. Don’t be fooled by the biggest black-market gain in a year for Nigeria’s naira. The rally, sparked by increased sales of foreign...
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    Business Nigeria: Naira Gains Massive 7% Against Dollar To Close At 425

    The Nigerian Naira staged a huge comeback against the dollar, appreciating by a massive 7 per cent against the greenback on the black market. The currency at the close of business exchanged at N425 per dollar, the highest it has been in weeks. According to the News Agency of Nigeria (NAN)...
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    Business Naira Free Fall: Crashes To 516/US$1

    The naira appears to have entered a free fall mode with the local currency selling for 516 per United States dollar on the streets of Lagos on Thursday. The currency plummeted at the parallel market from 510/dollar on Wednesday to 516/dollar on Thursday. Currency dealers on the streets of...
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    Business 20% Of Naira In Circulation Is Fake – Ex-CBN Deputy Gov

    Former deputy governor of Central Bank of Nigeria (CBN), Obadiah Mailafia says 20 percent of the currency circulating in the country is fake. Mailafia sated this at the National Assembly on Monday, while delivering a lecture at the public hearing on the 2017 budget. He said it would be...
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    Business Naira Plunges To 498/USD At Parallel Market

    The Nigerian naira plunged further against the United States dollar to a new record low of 498 on Thursday, down from 497 it recorded on Wednesday. The currency had continued to fall since the beginning of the year as experts see the currency hitting 500 to the dollar this year. It also traded...
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    Politics Buhari - I Was Overthrown and Jailed For Refusing to Devalue the Naira in 1985

    President Muhammadu Buhari has again restated his resolve not to devalue the naira. Speaking on Friday Night, during the 2016 regimental dinner organized by the presidential brigade of guards, President Buhari said, “I have resisted the devaluation of the naira, increase of the petroleum...
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    Business Naira, 3 Others Emerged Worst Currencies In 2016

    The Bloomberg LP has ranked Nigeria’s Naira as one of the world’s four worst performing currencies in 2016. According to the ranking, the Naira lost 36.68 per cent of its spot returns for the year in review. Other currencies in the bottom four are the Egyptian pound Suriname dollar and...
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    Business Naira Crashes To 490 Per Dollar To Complicate Christmas For Traders

    Nigerian Naira on Monday crashed to 490 per United states dollar at the parallel market, complicating Christmas for the traders at the foreign exchange market The Nigerian currency which exchanged at N487 to a dollar on Friday dropped sharply on Monday afternoon to N490 as dollar scarcity...

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