Naira depreciates as turnover rises in forex market
THE volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market grew by 26 per cent, month-on-month, to $5.3 billion in November from $4.2 billion in October, 2019.
Naira crashed 1450% in 20 years of democracy
The exchange rate data above showed that the nation’s currency, the naira, suffered severe depreciation in the 20 years of Nigeria’s Fourth Republic.
Naira exchanges at N359.4 to dollar at parallel market
The naira on Monday traded at N359.04 to the dollar at the parallel market in Lagos.
Naira: Redesign, redenomination or revaluation?
THE primary reason for public rejection of lower Naira denominations, was identified, in this column, in the last fortnight, as their negligible purchasing values rather than the material of fabrication.
Stakeholders place cost of Apapa traffic at trillions of Naira
STAKEHOLDERS in the Nigerian maritime industry are putting figures together, calculating their losses due to the long-standing traffic gridlock in Apapa port area.
Reawakening citizens’ responsibility to clean naira notes
NATIONAL identities are symbols of self determination, commonality and unity. One of such symbols is the national currency. Among other things, the national currency, according to Benjamin Anderson, a foreign affairs analyst, “is the ambassador of the country and the culture it represents”.
