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Business Naira Appreciates 3.14% to 310/USD1 At Inter-Bank Market
Nigerian naira appreciated 3.14% against the United States Dollar to close at N310. 24 at the Inter-bank foreign exchange market, seventy-two days after the Central bank of Nigeria removed peg on the country's currency. At the parallel market, the currency appreciated slightly tot 475 from 476...- ProfRem
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Business Naira Depreciates Against 3 Major Currencies At Interbank Market
The Naira depreciated against three major currencies at the interbank market on Wednesday. The local unit depreciated by Dollar - 0.23% to 314.77 Pound - 3.1 to 422.64 Euro - 0.33% to 352.46 At the parallel market, the Naira firmed by 0.47 percent to 423 against the Dollar, but fell...- ProfRem
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Business Naira Watch: Tracking Nigeria's Currency [Day 36]
The naira on Thursday appreciated to 313.75 to the United States Dollar at the inter-bank market as against 315 its closed the previous day. The currency closed at N356 and N414 to the Euro and Pound respectively at the end of closing period on Thursday. The Central Bank of Nigeria (CBN)...- ProfRem
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Business Naira Watch: Tracking Nigeria's Currency [Day 23]
The Naira on Monday appreciated against the United States Dollar closing at N282, twenty-three days after the Apex bank removed the currency peg. The naira opened the day's trading at N305.25 to the United States Dollar and closed at N282 at the inter bank market, according to data mined from...- ProfRem
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Business Naira Watch: Tracking Nigeria's Currency [Day 6]
Nigerian Naira on Monday retreated against the dollar by 0.4% to 282.72 vs US dollar, six official business week after the Central Bank of Nigeria removed peg on the country's currency rate. The Central Bank of Nigeria (CBN), today, made history in the Nigerian foreign exchange market as it...- ProfRem
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Business Naira Firms Against Dollar at Parallel Market
Nigeria naira firmed to 340/$ from 365 to the dollar on the parallel market on Friday, after the Central Bank introduced reforms designed to relaunch inter-bank currency trading and attract foreign investors. The naira gains ahead of currency floating on official market from Monday, Aminu...- ProfRem
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Business Naira Weakens Against Dollar At Parallel Market
The naira weakened further against the dollar at the parallel market on Monday, exchanging at N357 for a dollar as against N350 it traded on Friday. But maintained stability with the pounds sterling and euro, trading at N505 and N397 to each of them, respectively. Meanwhile, pending the...- ProfRem
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Business Naira Suffers As Pound Hits N500
The naira on Friday remained stable at the parallel market, exchanging at N350 to the dollar, the News Agency of Nigeria (NAN) reports. The Nigerian currency maintained same value since Wednesday. However, the naira weakened further against the pound sterling as it traded at N500 to the pound...- ProfRem
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Politics President Buhari Opens Up on Naira Devaluation, Fuel Subsidy Removal
President Muhammadu Buhari in Abuja yesterday, told editors and newspaper executives in a brief interview to mark the administration’s first year in office that the biggest shock he had during the past year as President. On Naira Devaluation: He said in the course of its history Nigeria...- ProfRem
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Business CBN/MPC Decision: 5 Things That May Happen To Nigerian Naira
Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) meeting has retained MPR at 12%, CRR at 22.5% and Liquidity Ratio at 30% while it embraces flexibility in the foreign exchange market. Cash-reserve ratio left unchanged at 22.5%, Central Bank of Nigeria Governor Godwin Emefiele said...- ProfRem
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