24.02.2017

BREAKING!!! Osinbajo’s New Policy Crashes Dollar as Naira Gains Massively in Parallel Market (HAPPENING NOW)

Naira is Trading this afternoon at N440 Against N525 Earlier in the week (See Screenshot below) Naira has continued on its four-day winning streak against the U.S. dollar on the parallel market yesterday to close at N480/$, stronger than the N501 to the dollar from the previous day, as the new foreign exchange policy actions introduced by the…
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Business
22.02.2017

Naira Records Gain, Closes At 512/dollar On Tuesday

Oyetunji Abioye The naira recorded slight gain on Tuesday and closed at 512 against the United States dollar on the parallel market, a day after the Central Bank of Nigeria introduced a new foreign exchange policy action. The CBN had on Monday announced its decision to begin sale of $1m weekly to each of the country’s 21 commercial banks at a rate…
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18.02.2017

CBN Pegs Dollar Rate For School Fees, PTA At N375/$

By Obinna Chima In line with its determination to boost dollar supply in the economy as well as to bridge the wide gap between the interbank foreign exchange (FX) market and the parallel market, the Central Bank of Nigeria (CBN) yesterday pegged the Naira exchange rate for payment of school fees (strictly universities) abroad and Personal Travel…
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11.02.2017

Again!! Naira Tumbles To 503 On Parallel Market

The naira tumbled against the United States dollar on the parallel market to 503 on Thursday, down from the 500 recorded on Wednesday. The local currency had closed at 499 and 498 on Tuesday and Monday, respectively. This came almost two weeks after the naira touched 500/dollar briefly and returned to 498/dollar. The local currency had been stable…
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04.02.2017

BREAKING NEWS: : Again, Naira sinks! (See exchange rate)

The Naira on Friday depreciated further on the parallel market after it had remained stable for nearly three weeks, the News Agency of Nigeria (NAN) reports. The Pound Sterling, the Euro, and the dollar traded at N616,  N530, and N500 respectively at the open market. The Nigerian currency, however, remained stable at the Bureau De Change (BDC)…
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