Widget powered by WhatstheScore.com

Author Topic: Naira strengthens against dollar, gains N10 - Worse trends in Nigeria History  (Read 110 times)

0 Members and 1 Guest are viewing this topic.

Offline mastercode

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 2001
    • View Profile
    • Naijacrux

The naira on Friday strengthened against the dollar after weeks of free fall at the parallel market.

The currency gained N10 to exchange at N270 to the dollar after it nosedived to N280 on Thursday.

At the official interbank window, it gained N0.03 to close at N196.97 to the dollar.

Traders at the market said that currency speculators were afraid that the naira could sell below their expectations and this forced them to release foreign exchange for sale.

Meanwhile, Dr Evans Osabouhien of the Department of Economics and Development Studies, Covenant University, Ota, Ogun, has said that during the Yuletide, Nigerians living abroad would be coming home with a lot of foreign currencies.

Osabouhien said that this would help to reduce the pressure on the foreign exchange market and strengthen the naira.
Share to:

You are not allowed to view links. Register or Login


Nigeria Single Treasury Acct TSA boost revenue collections as FAAC shares N511bn

Started by mastercode

Replies: 0
Views: 268
Last post August 30, 2015, 04:07:58 PM
by mastercode
Nigeria-South African country?s media confirms legitimacy $9.3M of arms deal

Started by mastercode

Replies: 0
Views: 259
Last post October 07, 2014, 11:34:33 AM
by mastercode
Tony Elumelu launches Empowerment Fund to revitalize Nigeria distressed areas

Started by admin

Replies: 0
Views: 368
Last post October 17, 2014, 01:11:34 PM
by admin
Fuel scarcity - okonjo iweala accused Oil marketers of holding Nigeria to ransom

Started by mastercode

Replies: 0
Views: 504
Last post May 04, 2015, 09:43:56 AM
by mastercode
IRAN - US Deal - Nigeria May Lose N333 billion in crude oil revenue By Year End

Started by mastercode

Replies: 0
Views: 206
Last post July 21, 2015, 01:50:49 PM
by mastercode