Nigerian Naira, Friday fell against the dollar, trading at 282.13 to a US dollar, ten official business day after the Central Bank of Nigeria removed peg on the country's currency rate.
The new foreign exchange policy received a million foreign investment boost as the Central Bank of Nigeria...
The Nigerian currency is expected to trade around 350 Naira to the dollar in the coming days as uncertainty over the implementation of the Central Bank of Nigeria’s planned new flexible exchange rate policy persists.
A meeting between the CBN Governor and local currency traders over the policy...
central bank of nigeria
The Nigerian Naira might not be doing well at the moment, but some African countries are having it worse compared to it. Here is the exchange rate as at 21/3/2016 of some selected African countries' currencies against the Naira
1 Naira = 0.8 Angolan Kwanza
1 Naira = 0.0056 Botswana Pula
The South African finance minister, Pravin Gordhan, earlier today, said the country's economy is 'in crisis'.
The comments came ahead of his Budget speech, in which he cut the country's growth forecast for 2016 to 0.9%, down from 1.7%.
He conceded the economy is struggling with shrinking...
south africa in crisis
The Economist has warned that Nigeria’s president, Muhammadu Buhari is making an economic blunder by refusing to devalue Nigeria’s currency, the naira.
The news magazine said “Instead of letting the naira depreciate to reflect the country’s loss of purchasing power, Mr Buhari’s government is...
The Naira crashed further against the dollar from 247 last Thursday to 251 on Saturday at the parallel market.
This came barely one week after the Central Bank of Nigeria cut foreign exchange supply to Bureau De Change operators.
The central bank had during its weekly forex sale to the BDCs...
After making a rebound on Monday at the parallel market, the Naira has crashed against the dollar on Wednesday again. The currency lost N1 to the dollar at it exchange for N225 against N224 the previous exchange rate and N350 and N256 against the Pounds and Euro, respectively.