Nigerian naira on Thursday depreciated by 0.44 per cent to close at 457 to a dollar at the parallel market.
The currency also crashed against the British pound and Euro to 540 and 475.
At the Bureau De Change window, the Naira was sold at N399 to a dollar, the Central Bank of...
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The naira bounced back against the United States dollar from 500 to 498 at the parallel market on first day trading February, 2017.
The naira has been under persistent pressure as scarcity of the greenback continues to hit the market.
The currency still maintained high rate against the pound...
The President of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe has hailed the newly proposed abolition of the parallel market.
“The scrapping of multiple markets outside the purview of the CBN will be a welcome development.
“The existence of multiple rates is highly...
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The Nigerian naira set to revive its losses as traders anticipate improved dollar supply from international money transfer agencies to ease a shortage, which has pushed down the local currency.
The naira fell to N470 to the dollar on the parallel market yesterday from N455 a dollar last week...
Dollar shortage worsens as Central Bank of Nigeria delays announcement of more flexible foreign exchange system, Aminu Gwadabe, president of Bureau de Change Operators of Nigeria told Bloomberg by phone.
According to him:
“Importers that waited to buy dollars at a better rate under a...
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