Tag: Naira
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CBN announces huge interest rate hike in response to naira crisis
The Central Bank of Nigeria (CBN) has announced a significant 400 basis point increase in its benchmark interest rate, raising it from 18.75% to...
Stocks, naira down. What worsening economy means for Nigerians
Nigeria's economic woes intensified on Monday, with both the naira and stock markets experiencing significant setbacks.
The naira hit record lows on both official and...
Naira hits new low of 1,650 per dollar in intraday trading
The naira fell to another record low of 1,650 to the dollar in intraday trading on the official market on Monday, Reuters reported.
The currency...
Naira tumbles to new low as dollar scarcity persists
The naira plunged to a new record low on Thursday, inching closer to the unofficial parallel market rate as chronic dollar shortages continue to...
Naira falls to new intraday low on official market
Naira dipped to its lowest official mark ever on Tuesday, briefly touching 1,248 against the dollar before clawing back some ground to close at...