September 23, 2016/Punch Oyetunji Abioye The Nigerian banking sector’s profit fell by 28.4 per cent in the 2015 financial year, the just released Afrinvest 2016 Banking Sector Report showed. The report, released in Lagos on Wednesday, indicated that foreign exchange volatility and lower oil price led to a major decline […]
Money Market
Naira crashes to 436 as dollar reserves shrink
September 23, 2016/Punch Oyetunji Abioye The naira hit a new record low of 436 against the United States dollar at parallel market on Thursday, down from 428 on Wednesday, as dollar shortages on the official market persist. The development came amid depleting external reserves, which stood at $24.8bn on Monday. […]
Naira falls to 428 per dollar
22/9/2016/Punch The Nigerian currency on Wednesday depreciated against the three major currencies in all the segments of the Forex market. The naira fell at the parallel market to N428 against the dollar, N550 against the Pound Sterling and N468 per Euro. The currency had exchanged for N424, N550 and N471 […]
