Naira (Currency) - New Nigerian Politics | New Nigerian Politics

Dollar pulls back on rising optimism

Posted by admin Economy, Headlines, Naira (Currency) Tuesday, August 3rd, 2021

Naira vs Dollar. Photo: NAIRAMETRICS By Geoff Iyatse Data suggest increasing perception about naira The dollar pulled back at the parallel market at the weekend on the strength of rising market optimism and ease of panic over the stoppage of foreign exchange sale to the bureau de change (BDC) operators. The dollar traded between N505/$ and […]

Naira suffers major crash at BDCs, Black market

Posted by admin Economy, Headlines, Naira (Currency) Wednesday, July 28th, 2021

By Abankula The Nigerian Naira is in a tailspin at the Black Market, a day after the Central Bank stopped weekly sale of dollars to the BDCs. According to the ngnrates.com, the Naira slumped to N522 to the US Dollar. Operators in the market bought it at N515. At BDCs, the rate quoted was N510-N520. […]

Naira weakens to lowest in four years

Posted by admin Economy, Latest Politics, Naira (Currency), Top Stories Thursday, June 17th, 2021

By Dennis Erezi Nigeria’s Naira weakened to a four-year low in the parallel market after the Central Bank of Nigeria (CBN) efforts to persuade banks to sell more dollars to customers failed to bridge the widening gap between the official and street rates. As of Wednesday, black market dealers were offering the naira at 502 per […]

CBN depreciates naira to N410.25 in I&E window

Posted by admin Economy, Latest Politics, Naira (Currency) Saturday, January 2nd, 2021

By Elizabeth Adegbesan The Central Bank of Nigeria depreciated the naira yesterday by N16.25 kobo depreciated in the Investors and Exporters (I&E) window. This represents the third and biggest daily depreciation of the naira since 2017. Recall, the indicative exchange rate for the window jumped to N374 per dollar at the close of business from […]

Naira weakens badly

Posted by admin Economy, Headlines, Naira (Currency), National Politics Wednesday, November 25th, 2020

As MPC retains policy rate, other parameters • Food inflation to moderate as harvest starts, says Emefiele • We must avoid blind speculation, Adedipe warns Nigeria is grappling with additional challenges, including a faster rate of inflation, as the gap between official and parallel segment of the foreign exchange (FX) market continues to widen. As […]

GODWIN EMEFIELE; Despite COVID-19, Nigerian Banks Still Resilient

Posted by admin Economy, Headlines, Naira (Currency) Sunday, September 27th, 2020

CBN Governor, Mr. Godwin Emefiele The Executive The Central Bank of Nigeria Governor, Mr. Godwin Emefiele, in this post Monetary Policy Committee interview spoke about the health of banks in the country as well as the impact of the bank’s development finance interventions since the outbreak of the COVID-19. Obinna Chima brings the excerpts […]

Naira goes south against the U.S. dollar

Posted by admin Africa & World Politics, American Politics, Economy, Latest Politics, Naira (Currency), National Politics, Top Stories Wednesday, September 9th, 2020

By Abankula The Nigerian Naira depreciated against the US dollar in the parallel market on Monday in contrast to the massive gains it recorded last week. According to market monitors, ngnrates.com, the US Dollar is being traded at ‚¦445.00 today, 7 September. This is N5 more than last week’s price of N440. The buying rate […]

CBN’s Battle to Safeguard the Naira

Posted by admin CBN (Central Bank of Nigeria), Economy, Headlines, Naira (Currency) Sunday, August 30th, 2020

CBN Governor, Mr. Godwin Emefiele Going by the present volatility in the macroeconomy, the Central Bank of Nigeria (CBN) cannot afford to allow saboteurs ruin its current efforts to maintain price stability as well as support the recovery of the economy, writes James Emejo Undoubtedly, these are not the best of times for the Nigerian […]

Naira crashes 108% against West Africa CFA currency

Posted by admin Economy, General Politics, Naira (Currency), National Politics Monday, August 24th, 2020

Nigerian naira banknotes . REUTERS/Afolabi Sotunde • In five-year free fall • CBN sells pound above N500 for the first time The naira has fallen by 108 per cent against the West African CFA (popularly known as CFA) in the past five years as the latter rallies to wipe out the hitherto wide trading gap […]

Naira falls against dollar despite CBN’s intervention

Posted by admin Economy, Headlines, Naira (Currency) Saturday, July 8th, 2017

The Naira on Friday suffered marginal loss against the dollar at the parallel market in spite of CBN’s intervention at the foreign exchange market. The Naira lost one point to exchange at N366, weaker than N365 traded on Thursday, while the pound sterling and the Euro closed at N468 and N412, respectively. At the Bureau […]