By InvestAdvocate Lagos (INVESTADVOCATE)-The Nigerian naira on Wednesday traded at N365 against $1, according to Cordros daily market update compared to a range of N347 to N352 traded on Tuesday on the parallel market. The update reported that in the interbank market – the naira had appreciated against two (2) […]
Tag: Dollar
Dollar scarcity pushes naira to 352
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 […]
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 […]
