Author Topic: Naira strengthens against US dollar at parallel market  (Read 70 times)

0 Members and 1 Guest are viewing this topic.

Offline admin

  • Administrator
  • Hero Member
  • *****
  • Posts: 1200
    • View Profile
Naira strengthens against US dollar at parallel market
« on: December 30, 2015, 11:46:56 PM »
Loading...

The naira on Wednesday strengthened against the dollar as currency speculators feared that the apex bank might come up with policies that might be unfavourable to them in 2016.

The News Agency of Nigeria reports that the naira gained N1, an appreciation of 0.4 per cent, to exchange at N226 to the dollar as against its previous value of N227.

However, at the official inter-bank window, the naira continued to exchange at N197 to the dollar just as available apex bank?s record puts the price of crude oil at 36.09 dollars.


Traders at the parallel market told NAN that the appreciation was fuelled by currency speculators.

They envisaged that the apex bank might come up with policies that would affect them negatively in the New Year.



Loading...
 

different types of stock - The stock market

Started by mastercode

Replies: 0
Views: 220
Last post June 30, 2015, 12:12:13 PM
by mastercode
Lagos State is in 1 trillion naira debt - Femi Fani-Kayode

Started by admin

Replies: 0
Views: 273
Last post September 13, 2014, 11:33:59 AM
by admin
Economists urges President Buhari to resist devaluation of the naira

Started by internet police

Replies: 0
Views: 303
Last post November 14, 2015, 07:30:09 PM
by internet police
Nigerian FG move to devalue Naira after removing fuel subsidy

Started by admin

Replies: 0
Views: 99
Last post May 12, 2016, 06:15:43 PM
by admin
CBN devalues naira, raises interest rate to 13 per cent

Started by jchima14

Replies: 0
Views: 190
Last post November 25, 2014, 11:58:06 PM
by jchima14