By InvestAdvocate Lagos (INVESTADVOCATE)-The bears on Tuesday resurfaced on the Nigerian bourse as benchmark index declined by 0.05 percent to close at 28,248.86 points. “Today’s negative performance trimmed the Month-to-Date gain to 2.35 percent and increased the Year-to-Date loss to1.37 percent,” according to Cordros daily market update. The update affirmed […]
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Naira Hits New Historic Low; Plunges to 450/$ as Acute Shortage Hit Hard
By InvestAdvocate Lagos (INVESTADVOCATE)- The naira on Tuesday hit a new historic low as it tumbled to 450 against the United States dollar at the parallel market on Tuesday, down from the 445 recorded on Monday, analysts at Cordros Capital said. The depreciation of the nation’s local currency continued in […]
Chronic forex shortage pushes naira to 445/dollar
27/9/2016/Punch Oyetunji Abioye The naira tumbled to 445 against the United States dollar at the parallel market on Monday, down from the 440 recorded on Sunday. The chronic dollar shortage hitting the economy took a new twist last Wednesday with the local currency dropping to 428 to the dollar after […]
