Tag: Naira
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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...
Naira resumes decline as CBN faces more FX backlog
The naira weakened on Wednesday despite efforts by the central bank to clear a backlog of matured foreign-exchange forward contracts. The naira fell to...
Why naira is suddenly gaining against dollar
The injection of dollars into the Nigerian foreign exchange market and the central bank’s interest rate hikes are working in favour of the naira,...
CBN begins clearing forex contracts, easing naira pressure
The Central Bank of Nigeria (CBN) has cleared matured forward foreign-exchange contracts with an unspecified number of banks in the country, a move that...