Tag
NAIRA
Nigeria expects its local currency, the Naira, to weaken further over time even after it showed signs of recovering from a record low on Thursday...
In the face of declining foreign exchange inflows and declining oil production, the naira fell to a record...
Tthe Minister of Aviation has said that the Federal Government will sanction foreign airlines that refuse to sell air tickets in Naira, Nigeria’s local currency.
The gap between the official and black market rates has widened to a whopping N271, owing to the...
The Naira, Nigeria’s currency ranks 11th worst-performing currency against the US dollar, according to Hanke's Currency Watchlist.
The Naira reversed its almost miraculous comeback to trade over the N700/$1 mark once again.
The exchange rate between the naira and the US dollar fell to N698/$1 on Thursday morning, 25th August 2022.
The prevailing economic conditions suggest that the drop in naira value will continue and we will be lucky if the exchange rate does not jump to N1000 to a dollar by 2023.
Despite Naira's recent high volatility, none of the fundamental macro indicators has shifted in Naira's favour.
In the past seven months (December 2021 and July 2022) Nigerians are experiencing a sharp worsening of the misery index by almost 81 basis point each month.
After the nation's anti-graft agents raided currency operators in Lagos and Abuja, the naira recovered from a record low against the dollar on the black market.
Since the start of August, the naira has continued to rise while holding onto its gains amid weak buying pressures of the dollar in Nigeria's black market.