Money

Naira depreciates against dollar, pound at unofficial market

Ihesiulo Grace 14 August 2017 0

.Eases at NAFEX to 364.78/$1, gains 0.47% The Nigerian currency, Naira, over the weekend, extended its losing streak against major foreign currencies, dollar and pound sterling at the unofficial segment of the Foreign Exchange (Forex) market to close at 367 and 478, respectively, against 366

Money

Naira stable at 380/$1, after retention of status quo

Ihesiulo Grace 25 May 2017 0

A day after the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) concluded its two day bi-monthly meeting in Abuja, with all status quo unchanged, the Naira has been forced to remain stable at the same rate it has been trading since the foreign exchange market opened for the week. The last […]

Money

Naira stable as CBN injects $100m FX

Ihesiulo Grace 23 May 2017 0

The Nigerian currency, the naira closed on Monday at N380 the same range it closed over the weekend against the Dollar at the parallel market, as the Central Bank of Nigeria (CBN) sold $100 million at a special wholesale spot and forwards auction, in order to improve dollar liquidity and ease pressure on the local […]

Business

Naira gains as traders expect sustainable appreciation

Ihesiulo Grace 19 May 2017 0

The Naira, on Thursday gained a total of five points to close at 380 to the dollar, compared to 385 it sold on Wednesday at the parallel market. The local currency, also appreciated against Pound Sterling at 485, against 490 sold on the previous day, while Euro remained unchanged at 420 at the unofficial market. […]

Business

FG to reduce inflation to 15.74 in 2017

Ihesiulo Grace 8 March 2017 0

As part of its continued effort to ensure improved economic growth and achieve a market-determined exchange rate regime, the Economic Recovery and Growth Plan 2017-2020 has said that Nigeria sees 2017 inflation at 15.74 percent, and at 12.42 percent next year. This is even as the federal government through the Debt Management Office on Tuesday […]