Nigeria's currency is expected to have little price swings in the coming weeks, as the lockdown aggravates dollar shortages.
Interestingly, the dollar fell significantly against most major currencies on Tuesday, amid concerns that the currency had surged too quickly when safe-haven demand is dropping.
Association of Bureau De Change Operators of Nigeria has given assurances to the public of continued sale of dollars at the official price
The Central Bank of Nigeria (CBN) has reportedly devalued the Naira. Nairametrics found from a reliable source that the CBN moved the rate of foreign exchange...
Investors are fleeing emerging markets in record numbers and piling into the safe-haven greenback with two emergency interest-rate cuts this month.
In exchange rate, when Nigeria sells oil, she is paid in dollars, but when Nigeria imports, she spends those dollars also.
The reserves, which stood at $47.79 billion as at July 5, dropped to $45.23 billion as at September 13.