March 3, 2016 By Oyetunji Abioye The naira gained six per cent against the United States dollar at the parallel market on Wednesday, closing at 310 against the greenback, foreign exchange dealers said. The local currency, which went for between 325 and 330 for one dollar on Tuesday, had been […]
Tag: External Reserves
External reserves drop to $47bn
The nation’s external reserves have dropped to $47bn, after being stagnant at $48bn for over three months. Data obtained from the Central Bank of Nigeria’s website on Wednesday showed that the reserves dropped to $47.6bn on Tuesday. The reserves, which hit the $48bn mark on March 11, 2013, had since […]
CBN monetary policy: Boosting external reserves, hurting businesses – Analysts
The monetary policy adopted by the Central Bank of Nigeria has impacted positively on Nigeria’s foreign exchange reserves but businesses are faced with high cost of borrowing, writes Okechukwu Nnodim Economists and financial analysts have expressed varied views regarding the determination of the Central Bank of Nigeria to maintain its […]
