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Business Naira Stable, Ghana Cedi Declines 0.5% to 3.96/USD At Inter-Bank Market
Nigerian naira on Friday remain stable at 316 to a United States dollar at the inter-bank market, over a month the Central Bank of Nigeria removed peg on it. The currency 3 month non-deliverable forwards also moved to -0.1% to 350.5 per US dollar. Ghana Cedi on the other hand, declined 0.5% to...- ProfRem
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Business Naira Gains 0.7% to 315/USD
Nigerian naira Wednesday gained 0.7% to 315.25 to a US dollar at the inter-bank market as at 11.32 am in Lagos, commercial hub of the country. The naira to dollar 3 month non deliverable forwards fall 0.3% to 349 to the US currency. Meanwhile, On Tuesday, President Muhammadu Buhari’s Economic...- ProfRem
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Business Naira Steady At 316.50, Ghana Cedi Gains 0.3% to 3.94 /US Dollar
Nigerian naira on Tuesday steady against united Dollar at the inter-bank market as the price remain unchanged at 316.50 in Lagos, commercial nerve centre of the country. The Ghana Cedi gained 0.3% to 3.94 against the US Dollar as of 9:30am in Accra, the capital city. The government of Ghana is...- ProfRem
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Business Naira Watch: Tracking Nigeria's Currency [Day 25]
The Naira on Wednesday down slightly against the United States Dollar closing at N315, twenty-five days after the Apex bank removed the currency peg. The naira opened the day's trading at N310.25 to the United States Dollar with a high trading rate of the day of 5.8% to N334, making it all time...- ProfRem
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Business Naira Crashes By 5.8% to N334 against US Dollar
Nigeria naira weakened to an all-time low of 334.50 against the dollar on the interbank market on Wednesday, a day after the central bank hiked interest rates to try to lure foreign investors back into local assets, traders said. The naira fell 5.8 percent on Wednesday from its opening rate...- ProfRem
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Business Nigerian Naira Slides To All Time Low As CBN Monetary Policy Committee Meets
The naira has hit yet new record lows this morning as the currency continues to slide as the 251st edition of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) underway. The Nigerian currency has dropped a further 1 per cent against the greenback this morning to a new...- ProfRem
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Business Naira Trades Above N300/$ At Inter-Bank Market
The naira, today, traded above N300 at the inter bank market over 20 days the Country's apex bank removed peg on the currency. The Naira, which closed at 294.25 to a dollar on Wednesday, headed to the south on Thursday trading at N309 to a dollar at the official market. The currency is...- ProfRem
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Business Nigerian Naira Heads To The Rocks, Declines 0.3% to 294
Nigerian Naira on Wednesday keeps heading to its normal value as Central Bank of Nigeria hands off on the country's currency. The naira declines 0.3% to 294.25 against the United States Dollar as of 2:54pm in Lagos, record low on a closing basis. Also, Naira to dollar 3-month...- ProfRem
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Business Nigerian Naira Reacts to IMF Prediction, Weakens 3.4% to N293/USD1
The Nigerian naira on Tuesday immediately reacted to the International Monetary Fund adjustment on Nigeria's economic outlook for 2016 by sliding to all time low at the inter-bank market. The Naira weakens 3.4% to N293.25 to a dollar at 3:23pm in Lagos, the commercial hub of Nigeria. The...- ProfRem
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Business Naira Crashes To N286 to US$1, Becomes 3rd Worst Performing Currency
The Naira received its worst bashing last week at both the parallel and official markets, thus signalling more pains for Nigerians. The naira hit a record low of 295.25 on thin trade at the interbank market, a month after the CBN lifted its currency peg, Reuters reported. On Monday morning...- ProfRem
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Business Nigeria: Revenue Slumps, Naira On Free Fall, Buhari's 2016 Budget Short-Changed
Failure of President Muhammadu Buhari led federal government to meet revenue targets for the first and second quarters, persistent oil production shut-in from militancy and foreign exchange supply challenges have renewed concerns on the feasibility of the 2016 budget. The problems have also...- ProfRem
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Business CBN Bows To Pressure, Finally Frees the Nigerian Naira
The CBN has finally bowed to pressure mounted by the financial markets and analysts to freed the nation’s currency so that its rate on the Nigeria Interbank Foreign Exchange (NIFEX) will be determined by the interplay of demand and supply. According to ThisDay reports, the apex bank will...- ProfRem
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Business Naira Watch: Tracking Nigeria's Currency [Day 16]
Nigerian Naira, Thursday rose slightly at 283.10 to a US dollar, sixteen official business day after the Central Bank of Nigeria removed peg on the country's currency rate. Nigerian naira gained 0.1% to 282.68 against the USD as of 1.17pm in Lagos, commercial hub for 2nd Day in a roll according...- ProfRem
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Business Nigerian Naira Heads for Biggest Gain in 5 Months
Nigerian naira gains 1.3% to 280.10 against the US Dollar as at 11.38am in Lagos, commercial hub of the country. The gain is poised for biggest advance since Feb. 16, 2016. According to Bloomberg, the Naira to dollar 3 month non-deliverable forwards also fell 0.1% to 290.85 to the US...- ProfRem
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Business Nigerian Naira Weakens Slightly Against Dollar At Parallel Market
The Naira on Monday weakened slightly against the dollar at the parallel market, the News Agency of Nigeria (NAN), reports. The Nigerian currency shed 1 point to trade at N353 by midday, from N352 it traded on Friday. However, the Naira hedged against the Pound Sterling and the Euro as it...- ProfRem
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Business Nigerian Naira Rises 0.5% to N280/USDollar
Nigerian naira on Monday rises by 0.5% to N280.65 to a United state dollar as at 11am in Lagos, the commercial nerve city of the country. According to Bloomberg news, the naira extended gain of 0.6% this week despite the three days off declared by the federal government. Naira to dollar on...- ProfRem
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Business Naira Strengthens Against US Dollar Since CBN Floats Currency
Nigeria’s naira, yesterday, rose against the dollar, heading for its first gain since starting to trade without a peg three days ago, as the central bank sought to stabilize the market by selling dollars. According to Data obtained from the Bloomberg terminal, the naira rose 0.7 percent to...- 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 Watch: Tracking Nigeria's Currency [Day 1]
Naira weakens to 24% to 260 against United States Dollar as of 11.06am in Lagos, commercial capital as Central Bank of Nigeria allows currency to trade freely, according to a data gathered from the Bloomberg terminal. Earlier the Naira weakened to N253 to a dollar as the operation of the inter...- ProfRem
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