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NAIRA EXCHANGE RATE
News and stories about Naira exchange rate
Naira continues on its downward slide against major currencies of the world as it dipped further against the US dollar to stand at an average of $1/N412.
Naira has depreciated to its weakest level since February 2017 at the parallel market, which is also known as the black market.
This could be a sign of what is to happen to the economy this year.
CBN has adjusted the value of the Naira by as much as 15% as it seeks a single exchange rate instead multiple exchange rate.
The Central Bank of Nigeria (CBN) on Friday moved the official exchange rate from N307/US$1 to N360/US$1.
The central bank of Nigeria has devalued its official exchange rate from N307/$1 to N360/$1.
Association of Bureau De Change Operators of Nigeria has given assurances to the public of continued sale of dollars at the official price
President Muhammadu Buhari has made currency stability a key pillar of his plan to revive an economy still reeling from the collapse of oil prices in 2014.
In exchange rate, when Nigeria sells oil, she is paid in dollars, but when Nigeria imports, she spends those dollars also.
Latest development suggests the Central Bank of Nigeria (CBN) may finally allow the Nigerian naira to be floated and freely determined by market forces from the currently pegged N305/1$.
The Central Bank of Nigeria (CBN)stabilized the Naira in 2018 by injecting $39.9 billion into the foreign exchange market...
Nigeria's external reserve has dropped to $45 billion the lowest since March 21, 2018, when it was $45.3 billion....