Nigeria’s Naira Hits Fresh Low Against Dollar Despite Rate Hike
WEB1 day ago · Nigeria’s naira fell to a fresh low against the dollar, shrugging off on a surprise interest-rate increase amid ongoing local scarcity of the US currency.
Naira declines by 8.2% amid dollar shortage - Punch Newspapers
WEB15 hours ago · Naira declines by 8.2% amid dollar shortage. Nigeria’s naira has continued its downward slide, falling to a new low of N1,677 per dollar at the official close on Wednesday, according to data ...
CBN, banks sell $9.9bn as naira weakens to N1,670/$
WEB2 days ago · At the official market on Tuesday, the value of the naira dropped to N1,658 against the United States dollar from the N1,659 it sold on Monday while black market sellers sold at the rate of N1,670.
Nigeria Surprise Hike Aims to Support Naira, Curb Inflation
WEB3 days ago · The Central Bank of Nigeria surprised financial markets by raising borrowing costs to a fresh record high to quell inflation and support the naira.
Naira Reverses Gains as Outlook Dims on Declining Dollar Inflows
WEBMay 10, 2024 · Nigeria’s naira has reversed recent gains and is now the world’s worst performing currency in the last month, increasing pressure on the central bank to keep raising interest rates.
Nigeria allows naira to drop more than 36% on official market
WEBJun 14, 2023 · Nigeria's central bank allowed the naira currency to drop as much as 36% on the official market on Wednesday, days after President Bola Tinubu suspended the central bank governor who oversaw...
Nigeria devalues the naira in bid to attract foreign investors
WEBFeb 1, 2024 · Nigeria has sharply devalued its currency for the second time in eight months, as the west African country bids to clear up its messy system of exchange rates and attract investment to its ...
End to Nigeria currency peg causes biggest fall in naira’s history
WEBJun 14, 2023 · Nigeria has abandoned its years-long currency peg and allowed the naira to trade freely, traders and local bankers said, prompting the biggest single-day fall in its history.
Nigeria allows currency to drop third of value on official market
WEBJun 14, 2023 · Nigeria’s central bank allowed the naira currency to drop as much as 36 percent on the official market on Wednesday, days after President Bola Tinubu suspended the central bank governor who...
Nigeria's naira crisis: Supreme Court suspends banknote deadline - BBC
WEBFeb 8, 2023 · Nigeria's Supreme Court has temporarily suspended Friday's deadline to stop using old banknotes, which had caused a cash crisis in the country. Banks have not been releasing enough of the new...
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