Tag: Naira vs dollar

Dollar Hoarders, Speculators Lose As Naira Rebounds to 720/Dollar

Scott Matthew

How, why Naira rose by over 140/dollar within 48 hours – Experts, Traders   Naira, Nigeria’s unit if exchange, has rebounded by 20.8 per cent to 720/dollar at the parallel market, digging a big hole in the purse of hoarders and speculators. The development came two weeks after the local currency came under severe pressure at the black market, following the announcement by the Federal Government to redesign the naira. READ ALSO: Naira Sinks To N860/Dollar, Alters Petrol Depot Dynamics Atiku: Why Obasanjo’s lmage Ought To Be In Redesigned Naira…

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Naira suffers N421.9 Intraday low, slides to N411.50/USD at Official Market

Damola Oyede

  Nigeria’s unit of exchange, Naira, has depreciated further against the U.S. dollar at the official market, also known as the Investors and Exporters (I&E) window. Platforms Africa reports that data posted on the FMDQ Security Exchange where forex is officially traded showed this. The domestic currency, however, remained stable at the black market.   READ ALSO: Nigeria Downgrades Naira to N410.25/dollar, inflation rate hits 4 year-high Nigeria’s Apex Bank, CBN, Devalues Naira To 392/Dollar, Sells $1bn to BDCs Nigerian Banks rattled by N10trn Debits, Interest Rates Hike Imminent 11…

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