Author Topic: Nigeria Naira drops further to 385 against the dollar  (Read 260 times)

0 Members and 1 Guest are viewing this topic.

Offline mastercode

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 2164
    • View Profile
    • Naijacrux
Nigeria Naira drops further to 385 against the dollar
« on: February 18, 2016, 01:20:57 AM »
Loading...

The naira on Wednesday dropped further to N385 per dollar in the parallel market as demand for foreign exchange intensified in the market.

This development shows that the naira has depreciated by N60 against the dollar this week in the parallel market, when compared with the closing exchange rate of N325 per dollar Friday last week.


The currency, however, remained stable at the official interbank foreign exchange market as the interbank rate closed N199.34.

Thus the gap between the interbank and parallel market rates widened to N185.66 per dollar from N127.53 Friday last week.



 

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

Started by mastercode

Replies: 0
Views: 290
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: 288
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: 405
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: 535
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: 233
Last post July 21, 2015, 01:50:49 PM
by mastercode
President Buhari Tells NNPC New Boss - Recover all Stolen Nigeria Oil Money

Started by mastercode

Replies: 0
Views: 123
Last post August 05, 2015, 05:01:21 PM
by mastercode
President Buhari hails British support for repatriation of Nigeria?s stolen fund

Started by mastercode

Replies: 0
Views: 188
Last post October 07, 2015, 08:26:29 PM
by mastercode
APC React to PDP call for buhari's Resignation amid Nigeria 2016 missing Budget

Started by newspostng

Replies: 0
Views: 175
Last post January 15, 2016, 10:27:53 AM
by newspostng
FirstBank sustains support for Nigeria Association of the Blind on White Cane Da

Started by admin

Replies: 0
Views: 217
Last post October 15, 2014, 07:07:30 PM
by admin
ARMS DEAL: Finally, South Africa returns seized $15m to Nigeria

Started by mastercode

Replies: 0
Views: 232
Last post October 25, 2014, 09:41:20 PM
by mastercode