29/9/2016/Punch ’Femi Asu The naira slumped to a new all-time low of 470 to the dollar on the parallel market on Wednesday, posting its biggest daily decline since the Central Bank of Nigeria adopted a flexible foreign exchange regime. The local currency stood at 452 to the dollar at the […]
Money Market
Naira crashes to N465/ USD as CBN issues new directives on domiciliary accounts usage
29/9/2016/Vanguard As Naira came under fresh pressures in the parallel market Wednesday, the Central Bank of Nigeria, CBN, issued more directives restricting usage of domiciliary accounts by bank customers, apparently to stem the pressures and improve official supply of foreign exchange to the interbank market. As a result of the […]
Naira Continues Historic Low, Trades 460/$ at Parallel Market on Increased Demand
By InvestAdvocate Lagos (INVESTADVOCATE)- The naira on Wednesday hit a new historic low as it tumbled to 460 against the United States dollar at the parallel market, down from the 450 recorded on Tuesday, analysts at Cordros Capital said. The depreciation of the nation’s local currency continued in the parallel […]
