nigerian naira

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    Business Naira Gains Against US Dollar At Parallel Market

    Nigerian naira on Thursday gained 0.25 per cent to 397 against the United States dollar at the parallel market as Central Bank of Nigeria continues to fight market speculators and currency hoarders. The currency closed flat at 485 against the Pound sterling but depreciated by 20 naira to 420...
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    Business Naira Crashes, Loses 2% To 398 Per Dollar

    Nigerian naira on Wednesday crashed at the parallel market to 398 per dollar despite Central Bank of Nigeria intervention at the forex market. The currency lost 2 per cent against the greenback. The currency also depreciated to 485 against the Pound sterling but maintained rate at 415 to the...
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    Business How Nigerian Naira Performed This Week

    Nigerian naira closed flat on weekly trading as Central Bank of Nigeria, CBN on Monday adjusted by reviewing the naira-dollar rate for travelers, students and Medical fees from 376 to 360 and ordered to start honoring the new rate with immediate effect. The currency opened trading on Monday...
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    Business Naira Appreciates Further, Now At 390 Per Dollar

    Nigerian naira on Friday ended the week trading bullish as the currency trades 390 per US dollar at the parallel market. The currency also appreciated further against the Pound sterling and Euro at the parallel market to close at 490, 430 respectively. At the official market, the currency...
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    Business CBN Makes Fresh Intervention, Pumps $100m Into Forex Market

    The Central Bank of Nigeria (CBN) on Thursday offered the sum of $100 million to meet the requests of wholesale customers. The sale will be settled today. Acting Director of Corporate Communications at the CBN, Isaac Okorafor, disclosed that $91 million was taken. He said the dealers will...
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    Business Naira Edges Towards 300/US$1 As CBN Moves To Close FX Gap

    Nigerian naira on Thursday edged towards 300 per dollar at the black market as Central Bank of Nigeria, CBN, keeps pumping forex into official market to narrow the currency’s spread at the black market. The currency trades at 380 to 400 against the US dollar at the parallel market, gaining 2.5...
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    Business How CBN Weakens Dollar, Pushes Naira To 7-Month High At 410/US$1

    The Central Bank of Nigeria On Wednesday sold the dollar at a weaker rate, traders say, in an effort to boost liquidity on the official market and narrow the naira’s spread at the black market. The Central Bank has been intervening on the official market to try to narrow the currency spread...
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    Business How Buhari's Ministers Colluded With IMF To Ruin The Naira – Falana

    Femi Falana, human rights lawyer and senior advocate of Nigeria (SAN), has alleged that President Muhammadu Buhari’s ministers colluded with the Intermational Monetary Fund, IMF to ruined the naira. In this interview with THISDAY Newspaper, Falana spoke on various issues facing the country and...
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    Business Naira Makes Great Recovery, Rises By 5.81% To 430 Per Dollar

    Nigerian Naira on Tuesday made great recovery, rose 5.81 per cent to 430 against the United States Dollar at the parallel market. The massive gain is coming as the CBN on Monday injected additional 180 million dollars since February when it started its intervention to meet bids for wholesale...
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    Business Naira Extends Gains Against 3 Major Currencies

    Nigerian Naira on Monday extended gain against the three major currencies at the parallel market as Central Bank of Nigerian continues to save to the currency against US dollar. At the Parallel market, the Naira gained 5 naira to 455 from 450 its closed last Friday against the dollar. The...
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    Business Naira Appreciates To 455 Per Dollar At Parallel Market

    Nigerian naira on Thursday continued to appreciate against United States dollars at the parallel market. The currency gained 2 naira to 455 against the dollar and N5 to 580 against Euro from 585 it traded previous day. It remained flat at 550 to a Pound sterling at the parallel market. At the...
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    Business Naira Falls By 0.44% To 457 Per Dollar At Parallel Market

    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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    Business Naira Closes Firm At 455 Per Dollar At Parallel Market

    Nigerian naira on Tuesday closed firm at 455 to a dollar at the parallel market despite Central bank of Nigeria's intervention in the market on Monday. The currency opened Tuesday's trading with a N5 gain against the dollar but revert to N455 against the greenback at the close of Tuesday's...
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    Fixing The Naira, The Soludo Solution

    The Nigerian naira has been the major talk of the town as the currency gained heavily within a week after losing over 100 per cent in 2016. In an intriguing article on The Guardian Newspaper dated 26 February 2017 and titled: “Saving The Naira, The Soludo Option”, the writer, Dan Agbese...
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    Business Naira Appreciates Another 1.1% To 455 Per Dollar At Black Market

    Nigerian naira on Monday appreciated 1.1 per cent to close at 455 to a dollar at the parallel market. The currency gained 13 per cent last week after the Central Bank of Nigeria auctioned $230 million in forward contracts on the official market after selling $370 million this week to boost...
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    The Nigerian Naira 'Macabre Dance' Explained

    Nigerian naira which performed as the worst currency in 2016, surprised many spectators as its traded among the most performing currency last week owing to Central Bank of Nigeria intervention. The currency last Monday slumped to worst in history to 520 per dollar at the parallel market to gain...
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    Business Naira Extends Gain By 2% To 495 At Parallel Market

    The Nigerian naira on Thursday extended gain above 2 per cent against the United States dollar at parallel market, few days after the Central Bank of Nigeria relax country's forex policy. The currency started the day at N505 and appreciated to N495 as more and more people troop to the market to...
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    Business Naira Appreciates To 516/US$1 After CBN Eases FX Policy

    Nigerian naira on Tuesday gained rapidly against the United States dollar to 516 at the black market, 24 hours after the Central Bank of Nigeria adjusted the country's forex policy. On Monday, it crashed at the parallel market to N520 per United States dollar, even as the Central Bank of...
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    Business Nigeria: BDC Operators Express Worry As Naira Hits 510 Per Dollar

    Nigeria's naira hit a fresh low on the black market on Wednesday at 510 per United States Dollar at the parellel market. The head of its bureau de change association, BDC urged his members to help stabilise the currency, whose continued weakness had become a "major concern" to the central bank...
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    Business Nigerian Naira Faces Further Decline At 500 Per Dollar

    The naira is expected to depreciate further against the United States dollar at the parallel market despite increase in Nigeria's foreign reserve. Nigeria's forex exchange reserves have gained more than $2bn in 2017, rising to $28.2bn on February 2. The local currency had been stable against...
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