February 17, 2016/Punch The acute scarcity of foreign exchange, especially the United States dollar, made the naira to fall further on Tuesday to 252 against the greenback at the parallel market. The increasing pressure on the naira is caused by high demand for the dollar by importers and speculators, foreign […]
Tag: Aminu Gwadabe
Nigerian naira hits record low of 345 vs dollar
February 15, 2016/Reuters Nigeria’s naira weakened to a record 345 to the dollar on the parallel market on Monday, increasing pressure on the government to devalue the official exchange rate to narrow the gap and spare Nigerians from huge bills for imported goods. The local currency eased 1.47 percent from […]
Naira to weaken further as dollar demand soars
February 15, 2016 The naira will weaken further at the parallel market this week after shedding nine per cent of its value last week, foreign exchange dealers and economic experts have said. Last week, the local currency fell from 310 to 338 as acute shortage of the greenback lingered. The […]
