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. […]
Tag: parallel market
Naira appreciates to N296/$
January 19, 2016/Vanguard By Babajide Komolafe The Naira, yesterday, appreciated to N296 per dollar in the parallel market due to expectation that the Central Bank of Nigeria (CBN) will sell autonomous dollar to bureaux de change this week. Vanguard’s survey of major cities reveals that in Lagos the Naira appreciated by […]
UPDATE 2-CBN Retains Rate at 12% for 14th Time, Ups CRR to 75%
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)- The Nigeria’s Central Bank Tuesday retained the Monetary Policy Rate (MPR) at 12 percent (12%) consecutively for the fourteenth time following its Monetary Policy Committee (MPC) held January 20-21 2013 in Abuja Nigeria. However, the public sector cash reserve requirement (CRR) was tightened to […]
