The naira appreciated against the US dollar at the official window on Tuesday, supported by improved supply from exporters, non-bank corporates, and foreign portfolio investors. Trading data showed the local currency strengthened by 7 basis points (94 kobo), closing at ₦1,419.35 per dollar, within a range of ₦1,421–₦1,418.40. Analysts attributed the gain to a surplus […]
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 Wednesday how he intends to pay for a $3 […]
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 […]
… 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 […]
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 […]
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 […]