Tag: naira
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The Naira experiences a recovery as banks unload surplus dollars
Before the Central Bank of Nigeria's midnight deadline on February 1, 2024, instructing commercial banks to divest their excess foreign exchange reserves, Deposit Money...
The Naira hits a historic low on the official exchange window, trading at 1348 against the US dollar
The Nigerian naira experienced a significant decline, hitting an unprecedented low of N1348.63/$ on the Nigerian Autonomous Foreign Exchange Market this Monday.
This marks a...
The Naira experiences a decline in the parallel market, concluding the day at 900 Naira per US dollar in the official window
The Nigerian naira reached a historic low of N1,400/$ in the parallel market on Thursday, despite the Central Bank of Nigeria's efforts to stabilize...
Naira shows a recovery in the official market
Following days of market turbulence, the naira experienced a rebound at the official I&E Window on Tuesday, closing at N878.61/$1, a notable improvement from...
The decline in the value of the Naira results in a surge in drug imports, reaching N900bn
In 2024, high drug prices are anticipated to persist, reaching over N900bn due to the depreciation of the naira, placing additional strain on Nigerians...
