Naira records biggest fall in official market, depreciates to N1348/$
•As CBN releases $500m to clear more FX backlog By Babajide Komolafe, Emma Ujah & Elizabeth Adegbesan In apparent reflection of the dollar scarcity plaguing the economy, the Naira yesterday recorded its biggest fall in the official Nigerian Foreign Exchange Market (NAFEM) where it depreciated by 24 per cent to 20 N1,348 per dollar. Data from […]
Naira falls to N1,230/$ in parallel market
The naira yesterday depreciated to N1,230 per dollar in the parallel market from N1, 225 per dollar last week Friday.
Net forex inflow rises 4% to $24.1bn in 9 months
Foreign exchange inflow through autonomous sources fell 3.2 per cent to $30.73 billion in 9m’23 from $31.24 billion in 9m’22.
Naira scarcity: Call CBN to order now, TUC tells Tinubu
The Trade Union Congress of Nigeria, TUC, on Friday, told President Bola Tinubu to call the Central Bank of Nigeria, CBN, to order over the scarcity of Nigeria in the country.
Manufacturing sector bleeds as forex loss rises 400% to N466bn
The trend is reflected in the increased cost of producing consumer goods, which are mostly essential commodities used regularly by households
Naira gains at parallel market to N1,165/$
The naira yesterday appreciated to N1,165 per dollar in the parallel market from N1,167 per dollar on Wednesday.
Subsidy removal, forex crisis: Why price adjustments are inevitable
50kg bag of foreign rice which cost a little over N39,000 in June is now sold for about N60,000 and might rise higher as the festive season approaches. A middle-size tuber of yam sold for N800 in June this year, now sells for N1700. A kilo of chicken sold for N1,450 earlier in the year is now N3,200
Cartoon: Naira’s personal trainer declared wanted
Cartoon: Naira’s personal trainer declared wanted
Forex: NECA, experts disagree on FG’s target
Against the backdrop of indications that the Federal Government is putting in place measures to achieve exchange rate target of N500-N600/$1…
Old, new naira notes remain legal tender – CBN
Central Bank of Nigeria, CBN, Wednesday said that all banknotes (old, and new) remain legal tender.
Financial markets in contradictory response to new FX policy
There were contrary trends in the financial market yesterday, just a day after a major policy change by the Central Bank of Nigeria, CBN, reinstated the 43 items it had excluded from its foreign exchange supply window.
