US Fed has signalled its time to cut interest rates; Here is what it means for Nigeria’s exchange rate
On Friday, August 23rd, the US Federal Reserve Chair, Jay Powell delivered a much awaited speech at the Jackson Hole ...
Tag: Dollars
Analysts’ project naira to stabilize between N1,423.26/$ and N1,550/$ by year-end 2024
Financial analysts at United Capital Plc have forecasted that the exchange rate will stabilize, trending between N1,423.26/$ and N1,550/$ by ...
Exchange rate crosses N1,600/$1 at parallel market, hits N1,630/$1 on online platforms
Parallel market operators are quoting a buy price above N1,600/$1 for holders of naira looking to buy dollars, as the ...
EFCC to arrest hotels, schools, others charging local customers in dollars
The Economic and Financial Crimes Commission (EFCC) issued a stern warning to establishments such as schools, supermarkets, hotels, and others, ...
Forex turnover records $56.60 million as the naira falls marginally to N882.24/$1 at the official market
Forex turnover dropped by 3.18% to $56.60 as the Nigerian naira tumbled against the dollar marginally on Wednesday, January 24th, 2024, in both the ...
Nigeria’s path to non-oil dollars rest on these four sources
Current realities have shown that overdependence on oil might affect Nigeria's economy in the long run given its boom-burst nature.
Why Naira is heading towards N700/$ again
Despite Naira's recent high volatility, none of the fundamental macro indicators has shifted in Naira's favour.
Naira crash: Peter Obi urges Nigerians to stop using dollars for local transactions
Peter Obi has urged the government and Nigerians to stop using foreign currencies like US dollars for local transactions.
Nigerian importers are “desperate” to pay for dollars at “any price”
Nigerian Importers are desperate to pay for dollars at any price amid a forex scarcity that has made the black ...
Euro drops to its lowest in 5 years against dollars
As the war in Ukraine persists, the Euro has plummeted to a five-year low compared to the dollar.
