Tag
EXCHANGE RATE
This is according to information from black market operators interviewed by Nairametrics
The depreciation of the naira has been attributed to increased demand for the dollar amidst continuous shortages
Because of politics, private vested interest, and insincerity of purpose, the past and present FG always dances around the issue
Nigeria has reversed 6 consecutive quarters of current account deficits
The exchange rate has maintained a downward trend, following the move by the apex bank to raise the interest rate to a 20-year high of 15.5%, representing 150 basis points increase from the 14% stated at the previous MPC meeting
The CBN needs to change course if it wants to save the Naira.
Naira crashed to another record low on the black market, trading at an average of N722/$1 on Tuesday morning, from N713/$1 recorded in the previous trading session as eyes are now set on the Monetary Policy Committee briefing later today, to see the direction of the apex bank concerning interest rate movement and policy directions
It was the first day of the week and Abu was on the 3rd mainland when a customer...
The Nigerian Naira fell to N604/$ at the parallel from N565 at the start of the year.
The CBN Governor has explained why the apex bank cannot freely float the exchange rate despite pressure from the World Bank and IMF.
US Dollar in Nigeria is determined by the quantity of Dollars that flow into the country as well as the quantity of Dollars demanded by Nigerians.
The CBN has announced a programme that seeks to repatriate $200billion from non-oil exports over the next three to five years.