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Naira reverses gains, slipped to world’s worst performing currency in April – Report

May 10, 2024 by Francis Abel

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, Bloomberg reported on Friday. The naira has slipped to 1,466.31 to the dollar, its weakest level since March 20, hurt by the local scarcity of the … Read more

Naira depreciates by N130 against dollar at parallel market

May 5, 2024 by Francis Abel

The Nigerian currency, Naira, depreciated by N130 against the United States dollar at the parallel foreign exchange market on Sunday. A Bureau De Change operator, Mistila Dayyabu, disclosed this in an interview. He noted that Naira dropped to N,1420 per dollar from N1,290 in less than 48 hours at the parallel market. READ ALSO :Naira’s … Read more