Business

Dollar hits one-year high on recovery bets

Ihesiulo Grace 31 March 2021 0

On Wednesday, investors bet that fiscal stimulus and ambitious vaccines would help the United States lead a global pandemic recovery, sending the dollar to a one-year high against the yen and multi-month highs against other currencies. U.S. President Joe Biden is set to outline later on

Business

Naira stables against dollar across Forex segments

Ihesiulo Grace 10 May 2019

The Naira on Thursday remained stable across foreign exchange segments, including the parallel market, where it closed against the US Dollar at N359.3. The Pound Sterling and the Euro traded at N472 and N402, respectively. At the Bureau De Change (BDC) window, the naira was sold at N360 to the dollar, while the Pound Sterling […]

Business Headlines Money

External reserves hit $40.63bn, gain $1.9bn in one month

Ihesiulo Grace 5 February 2018 0

… as CBN targets $60bn reserves in 2019 Despite continuous injections of US Dollar into the official foreign exchange market to support the local currency, the Nigerian external reserves during the first month in 2018, has recorded a whopping gain of $1.85 billion, while compared $40.625bn stood as at end of January 30, 2018 from […]

Money

Naira gains at parallel market, drops further at official FX

Ihesiulo Grace 5 December 2017 0

The Nigerian currency, Naira, on Monday rebounded against the US Dollar at the parallel market to settled at 363 compared to 364 sold throughout last week, however, dropped further at the official foreign exchange market to close at 307 per dollar weaker than 305 exchanged in the recent time, data obtained by the Daily Times […]

Business News

Nigeria’s GDP shrinks to $354b, says Soludo

Ihesiulo Grace 11 March 2017 0

The former Governor of the Central Bank of Nigeria (CBN), Prof. Charles Chukwuma Soludo said the size of nation’s Gross Domestic Product has shrunk from about $575 billion to about $354 billion. Soludo said this at an economic talk shop, organised by the Vanguard newspapers. The talk shop which had other panelists such as Comrade […]