naira

  1. Currency Strengthens: Naira Hits N1400/$1 in Parallel Market as Demand Slows

    Nigeria Currency Strengthens: Naira Hits N1400/$1 in Parallel Market as Demand Slows

    In the parallel market, operators are quoting a buy price of N1400/$1 for individuals selling dollars, marking a notable strengthening of the naira. Recent checks by Nairametrics reveal that the exchange rate has been on the rise as speculators begin offloading their stockpiles of dollars due to...
  2. Statisense Report: Naira Plummets Among Top 15 Worst Currencies Against US Dollar

    Nigeria Statisense Report: Naira Plummets Among Top 15 Worst Currencies Against US Dollar

    The Naira has been listed among the 15 worst-performing currencies against the US Dollar, according to Statisense by References1. The report, dated March 18, 2024, highlights the year-on-year loss against the USD for various currencies. Lebanon tops the list with a staggering -497%, followed by...
  3. Naira’s Freefall: Nigeria's Currency Hits Unprecedented 999/Dollar Low Amid Economic Strain

    Nigeria Naira’s Freefall: Nigeria's Currency Hits Unprecedented 999/Dollar Low Amid Economic Strain

    In a distressing economic downturn, Nigeria's naira has reached an all-time low against the dollar, trading at 999 on the official market, as reported by Reuters. This significant depreciation is similar to the persistent weakness in the parallel market, where a scarcity of dollars puts enormous...
  4. Naira Drops to Record 980 per Dollar in Official Market, Reflecting Persistent Dollar Shortages and Economic Challenges

    Nigeria Naira Drops to Record 980 per Dollar in Official Market, Reflecting Persistent Dollar Shortages and Economic Challenges

    Photo by Sunday Abegunde on Unsplash According to Reuters, Nigeria's naira has plummeted to an unprecedented low against the dollar, hitting 980 naira per dollar in the official market. This record devaluation mirrors the ongoing weakness in the parallel market and underscores the persistent...
  5. Nairametrics: OPay Faces Backlash as Nigerians Discover Unauthorised Accounts

    Nigeria Nairametrics: OPay Faces Backlash as Nigerians Discover Unauthorised Accounts

    Image by Gerd Altmann from Pixabay Fintech company OPay has become involved in a controversial situation that has surprised many Nigerians. Nairametrics reported that many Nigerians have discovered they have OPay accounts despite having yet to open one. This discovery has sparked questions and...
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    Business More confusion trails Nigeria’s FX policy after latest naira U-turn – Businessday NG

    https://businessday.ng/exclusives/article/more-confusion-trails-nigerias-fx-policy-after-latest-naira-u-turn/
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    Business Naira value not decided by parallel market, says Emefiele – The Nation News

    https://thenationonlineng.net/naira-value-not-decided-by-parallel-market-says-emefiele/
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    Business NAIRA: Basing devaluation on parallel market rate wrong — CBN – Vanguard News

    https://www.vanguardngr.com/2020/11/naira-basing-devaluation-on-parallel-market-rate-wrong-cbn/
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    Business Naira weakens as external reserves decline by $$31.16m – Businessday NG

    https://businessday.ng/markets/currency-watch/article/naira-weakens-as-external-reserves-decline-by-31-16m/
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    Business Analysts project N483/$1 parallel market rate by Dec – New Telegraph

    https://www.newtelegraphng.com/analysts-project-n483-1-parallel-market-rate-by-dec/
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    Business Naira exchanges N460 to dollar on parallel market – The Nation News

    https://thenationonlineng.net/naira-exchanges-n460-to-dollar-on-parallel-market/
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    Business Naira crashes 108% against CFA – The Guardian Nigeria News

    https://guardian.ng/news/naira-crashes-108-against-cfa/
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    Business Nigerian Central Bank Devalues Naira by 5.3% at Currency Auction - Bloomberg

    https://www.bloomberg.com/news/articles/2020-07-04/nigerian-central-bank-devalues-naira-by-5-3-at-currency-auction
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    Business Naira Slumps to 452/$ as Speculations, Debt weaken Market – Naijabizcom

    https://naijabizcom.com/2020/06/18/naira-slumps-to-452-as-speculations-debt-weaken-market/
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    Business Naira in ‘marginal’ recovery as speculators face N10b loss – The Nation News

    https://thenationonlineng.net/naira-in-marginal-recovery-as-speculators-face-n10b-loss/
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    Business Naira under pressure, banks withholding Dollar supply – Vanguard News

    https://www.vanguardngr.com/2020/04/naira-under-pressure-banks-withholding-dollar-supply/
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    Business Pressures mount on Naira as external reserves heads below $34bn in April – Vanguard News

    https://www.vanguardngr.com/2020/04/pressures-mount-on-naira-as-external-reserves-heads-below-34bn-in-april/
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    Business CBN devalues Naira, now sells for 380/dollar – Olisa.tv

    https://www.olisa.tv/cbn-devalues-naira-now-sells-for-380-dollar/?utm_source=rss&utm_medium=rss&utm_campaign=cbn-devalues-naira-now-sells-for-380-dollar
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    Business CBN Technically Depreciates Naira (See New Value) – Naijaloaded

    https://www.naijaloaded.com.ng/news/just-in-cbn-technically-depreciates-naira-see-new-value
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    Business CBN rolls out new forex regulation – Vanguard News

    https://www.vanguardngr.com/2020/03/cbn-rolls-out-new-forex-regulation/
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