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  • Naira, Dollar
    Naira hits 500/dollar, faces further decline

    The naira has depreciated further against the United States dollar at the parallel market to 500, from 498. The development came barely one week after the naira touched 500/dollar briefly and returned to 498/dollar. The local currency had been stable against the greenback for about three weeks. The Nigerian currency, however, remained stable at the

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  • naira
    Naira devaluation inimical to economic devt, says don

    The Dean, Faculty of Business Administration, University of Uyo, Uyo, Akwa Ibom State, Prof. Leo Ukpong, has warned against naira devaluation, arguing that it will not help the economy to recover quickly from recession. Speaking at the weekend in Lagos, Ukpong who is also a Professor of Financial Economics, said the devaluation of any country’s

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  • naira-exchange
    Naira to remain below 500/dollar this week —Experts

    Currency retailers and experts have said the naira will trade slightly below 500 per United States dollar this week despite the commencement of the sale of foreign exchange to Bureau De Change operators by the Central Bank of Nigeria last week. The CBN had through the International Money Transfer Organisations resumed the sale of dollars

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  • Naira, Dollar
    Naira faces further decline on continued dollar scarcity

    The naira is set to witness another round of decline against the dollar in the days ahead as expected increase in dollar flows from Nigerians living abroad coming home for holidays fell short of expectations. The local currency closed at 490 to the dollar on Friday, from 495 against the dollar last Friday at the

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  • naira_nigeria1-696x466
    Naira Remains Stable At Interbank Market

    The Naira on Monday remained stable at the interbank market, closing at N305.25 to a dollar. The News Agency of Nigeria, NAN, reports that the naira maintained its Friday rate against the greenback. At the Bureau De Change (BDC) window, the naira traded at N400 to a dollar, CBN controlled rate, while the Pound Sterling

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  • naira_nigeria1-696x466
    Naira slumps further to 473 as dollar scarcity persists

    The naira weakened further against the dollar to 473 on Thursday from 470 the previous day, as fresh dollar scarcity continued to hit the official and parallel foreign exchange markets. This came just as experts and market players said the naira would depreciate slightly further in coming weeks at both the official and parallel markets

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  • Naira, Dollar
    Naira gains further against dollar

    The Naira on Thursday, continued to appreciate against the dollar at the three major segments of the Forex market. At the interbank market, the naira firmed further against the dollar, gaining 3.53 points to close at N306.71, from N310.24 it posted on Wednesday. At the parallel market, the naira gained 2 points to close at

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  • naira_nigeria1-696x466
    Nigeria crashes further against dollar, pound sterling

    The Naira on Thursday crashed further against the major currencies in all the segments of the market. At the interbank market, the naira fell by 2.99 points to close at N313.07 from N310. 08 recorded on Wednesday. At the Bureau De Change segment of the market, the naira traded at N424, N549 and N468 to

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  • Naira, Dollar
    Naira Falls Against US Dollar

    The Nigerian Naira depreciated on Friday, following limited forex liquidity in most major segments of the foreign exchange market. The local currency dropped N2.24 against the US dollar to trade at N308.69 at the interbank market, from Thursday closing of N306.93 against the greenback. While at the Bureau De Change segment, the Naira closed at

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  • Naira, Dollar
    See the implications of Buhari’s technical devaluation of naira

    A financial expert has reacted to reports that the Central Bank of Nigeria (CBN) is planning to peg the Nigerian currency to N250/dollar. A report on Tuesday, May 24 had suggested that the CBN governor, Godwin Emefiele, was expected to make an announcement on how the devaluation would look be and its process, but he tacitly

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