Naira gains in parallel market
05 June 2017 |
12:25 pm
Nigeria's foreign exchange market has continued on a path of rates convergence as the naira is currently trading at around three-hundred and sixty-five to the dollar.
Related
3 Sep 2020
In a circular, the Central Bank of Nigeria directed that Form M for Letters of Credit, Bills for Collection and other forms of payment should only be opened in favour of the ultimate supplier of the product or service. Reacting to this directive, the Lagos Chamber of Commerce and Industry says while the policy attempts to curb abuses in the foreign exchange market, it would create more problems than it would solve. Muda Yusuf, Director-General of the LCCI joins CNBC Africa’s Christy Cole for this conversation.
20 Sep 2020
These are trying times for Nigeria's economy, as an expected recession means the government has to take pro-active steps to mitigate the impact of the recession and recover in the shortest period. Meanwhile, President Buhari has asked the Central bank of Nigeria to stop issuing foreign exchange for food and fertilisers imports. Andrew Nevin, Partner and Chief Economist at PwC Nigeria joins CNBC Africa’s Kenneth Igbomor to assess the state of the Nigerian economy.
19 Oct 2020
Here are a few reasons to pick up a copy of The Guardian on Tuesday. Find these stories and much more when you grab a copy of The Guardian on Tuesday.
11 Dec 2020
Rise is an investment company that provides people living in Nigeria with dollar-denominated investments in the US and other markets to enable them to earn returns that make investing worth it. Rise brings the best investments from around the world to everyone in Africa and beyond in order to create wealth for the continent.
18 Jun 2021
Coming across a dead whale might not seem like finding treasure, but for a group of Yemeni fishermen that’s exactly what it was. In the whale’s belly they found a lump of ambergris, a hugely valuable waxy substance used in the making of perfume.
2 Jul 2021
Brazilians protest in front of Brasilia's National Congress in support of a fresh bid launched by opposition lawmakers to impeach President Jair Bolsonaro, after more allegations broke of corruption in acquiring coronavirus vaccines to tackle a pandemic he is accused of having criminally mishandled.
26 Jul 2021
Zoom has announced a $14.7 billion (£10.7b) deal to buy a cloud-based call centre operator.
3 Sep 2021
Here are a few reasons to pick up a copy of The Guardian on Saturday. Find these stories and much more when you grab a copy of The Guardian on Saturday.
7 Sep 2021
Here are a few reasons to pick up a copy of The Guardian on Wednesday. Find these stories and much more when you grab a copy of The Guardian on Wednesday.
21 Oct 2021
Experts question whether Google's planned $1 billion investment in Africa stands to benefit the continent in the long term. Instead, some see it as another avenue for big tech companies to acquire budding start-ups.
18 Nov 2021
Turkey's lira sunk to a new low against the US dollar on Tuesday. As the lira continues to tank, the Turkish working class suffer the brunt of the inflation.
23 Nov 2021
The Turkish lira hit new lows against the US dollar and euro. Analysts place the blame on the low interest rates and the cheap money policies preferred by President Recep Tayyip Erdogan.
Latest
1 hour ago
Nepal's ruling party has become increasingly wary of China's expansive Belt and Road Initiative amid Sri Lanka's financial collapse, fresh loans from the US and a shift towards India.
1 hour ago
The Russian invasion of Ukraine has been denounced by world leaders and prompted diplomatic and financial sanctions. But what do ordinary Russians think? President Vladimir Putin never misses an opportunity to refer to patriotism and national unity in a bid to justify his acts of aggression. A large majority of Russians adhere to this patriotism, some by joining Unarmia, a movement created by the Russian ministry of defence. Yet others have serious doubts about whether the invasion of Ukraine is in the best interests of the country they love.
1 hour ago
Sviatlana Tsikhanouskaya, Veronika Zepkalo and Maria Kolesnikova received the 2022 Charlemagne Prize. German Foreign Minister Annalena Baerbock said the Belarusian activists were the "bravest women in Europe."
4 hours ago
The first family will meet with community and religious leaders, as well as those who lost their loved ones to the violence that left 21 people — including 19 children — dead at Robb Elementary School in Uvalde, Texas.
4 hours ago
The 13-2 vote in favor of the resolution was not enough to secure its adoption as Beijing and Moscow have veto-rights. The US said the rejection means Pyongyang "will feel free to take further escalatory actions."
4 hours ago
Police in the US town of Uvalde, Texas are facing questions over why it took an hour to neutralise the gunman who murdered 19 small children and two teachers at Robb Elementary School. The tragedy comes amid increasing calls for greater gun control measures. Among the demands of campaigners are a ban on assault weapon sales, as well as universal background checks and so-called red flag laws. Pastor Mike McBride, director of the LIVE FREE gun violence prevention campaign with the Faith in Action network, joined us on Perspective to tell us more.