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 […]
Tag: Dollar
Naira falls to 325 on dollar shortage
The naira hit a record low of 325 to the dollar at the parallel market on Thursday as desperate importers scrambled for dollars to meet their obligations overseas. The local currency had closed at 318 against the greenback on Wednesday, after hitting 313.5 and 310 on Tuesday and Monday, respectively. […]
Naira drops to 313.5 as dollar shortage persists
The naira dropped further to 313.5 against the United States dollar at the parallel market on Tuesday as shortage of foreign exchange, especially the greenback, persists in the forex markets. The local currency had traded for 310 to a dollar on Monday. On Tuesday, the naira closed at 199.40 to […]
