Buhari, who expressed the view in presidential media chat in Abuja on Wednesday, said devaluation benefitted developed countries of Europe and America because they were productive economies
Browsing: NAIRA
The News Agency of Nigeria reports that the naira gained N1, an appreciation of 0.4 per cent, to exchange at N226 to the dollar as against its previous value of N227
The price is largely determined by the forces of demand and supply. The demand for crude has declined globally. The United States of America have become the largest producers of crude oil hence cutting down on the need to import crude to supplement its domestic needs. Since the US market shut its doors to Nigerian crude, the Asian market has been our best bet
The News Agency of Nigeria reports that the naira gained N5 to exchange at N265 to the dollar on Wednesday afternoon
The News Agency of Nigeria reports that the Naira had on Friday rebounded after weeks of record low at the market, exchanging for N270 to the dollar at the parallel market
Traders at the market told the News Agency of Nigeria that currency speculators were afraid that the naira could sell below their expectations and this forced them to release foreign exchange for sale.
The naira, which had been trading around N241 and N243 against the greenback for a long time, began a steady decline about three weeks ago when the Central Bank of Nigeria stopped the sale of foreign exchange to over 1,600 Bureaux De Change operators due to improper documentation
The News Agency of Nigeria reports that the Nigerian currency lost N9 to exchange for N258 to the dollar.
This was as against N249 it traded previously
Traders at the parallel market affirmed that the challenges at the Bureaux de Change continued to have its toll on the parallel market
The News Agency of Nigeria reports that the naira had on Friday fell to N248 to the dollar at that segment of the market
Traders at the market told the News Agency of Nigeria that the high demand for the dollar was putting the currency of the biggest economy in Africa in a difficult situation
The naira, however, appreciated at the official inter-bank window as it exchanged for N196.97 to the dollar as against its nearly fixed rate of N197
The News Agency of Nigeria reports that the naira has continued to slide in spite of the measures adopted by the Central Bank of Nigeria to defend the exchange rate
The News Agency of Nigeria reports that the naira lost N2 to exchange at N242 to the dollar, as against its previous value of N240
Traders at the market were optimistic that the sale of forex by the Central Bank of Nigeria would boost activities at the market
The News Agency of Nigeria reports that the currency of the biggest economy in Africa stabilised at N232 to the dollar for almost two weeks before scarcity of dollar forced it to depreciate further
Traders at the parallel market told the News Agency of Nigeria that the market was still leveraging on the challenges faced by operators of BDCs to make extra money
Traders at the market noted that the naira could witness a rebound if activities at the Bureau de Change bounce back
However, it appreciated at the official interbank window as it exchanged for N196.98 to the dollar as against its previous value of N197
NAN reports that the CBN had on Thursday issued a statement mandating banks and licensed BDCs to demand the Bank Verification Numbers before selling forex to their customers