Naira gains in parallel market
By CNBC
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.
In this article
Related
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.
27 Nov 2021
In Montenegro, the construction of a motorway to open up the Balkan nation – a project launched in 2014 – is now more than two years behind schedule. With its high environmental and financial costs (more than $1 billion), this pharaonic project has dangerously increased the debt of the country of 600,000 inhabitants. FRANCE 24 investigates. The work is being financed by a Chinese bank and largely carried out by a Chinese state-owned company and a local firm close to the previous government, which signed the deal. But if Montenegro defaults on its loan, the contract stipulates that the country must relinquish sovereignty over certain parts of its territory. This burden on the country’s new government has aggravated the strong suspicions of corruption around the building site.
19 Mar 2022
The Russian government made a $117 million interest payment to foreign bondholders on Wednesday, averting what would have been its first foreign debt default since the Bolshevik Party shocked Western investors in 1918 by refusing to repay the borrowings of Czar Nicholas II.
6 May 2022
Romania's capital is buried in smoke from burned trash that comes from all over Europe. The dubious business is being investigated. Prosecutors and activists are sounding the alarm about organized crime structures.
20 Jun 2022
The Japanese and Indian currencies plunged to their lowest records in decades against the US dollar as Washington looked set to hike interest rates in a bid to tackle inflation.
7 Jul 2022
The euro has slumped to its lowest since 2002 against the dollar amid fears that a recession in the eurozone could be looming. The currency fell as low as $1.0281, threatening a push towards dollar parity.
27 Sep 2022
The dollar has been on a tear in recent weeks as investors take refuge in the safe haven amid recession worries. The pound and the euro have been pummeled, but the greenback's ascent could have wider ramifications.
30 Oct 2022
Currencies are depreciating around the world and wreaking havoc on economies. But as the strong US dollar hits foreign demand, some American businesses are also experiencing painful losses.
25 Nov 2022
Find these stories and much more when you grab a copy of The Guardian on Saturday.
24 Jan
Nigeria opened a billion-dollar Chinese-built deep seaport in Lagos on Monday (January 23) which is expected to ease congestion at the country's ports and help it become an African hub for transshipment, handling cargoes in transit for other destinations.
29 Jan
Well-worn U.S. dollar notes are finding a new home on the streets of Harare, where they are bought at nearly half their value for resale at a profit after mending, as Zimbabweans find creative ways to survive an unrelenting financial onslaught.
Latest
3 mins ago
As Amsterdam's Stedelijk Museum attempts to diversify away from a white male-dominated modern art world, the film “White Balls on Walls” documents its successes and failures.
3 mins ago
US President Joe Biden has announced that an agreement has been brokered with Republican House Speaker Kevin McCarthy to raise the government's debt ceiling This pivotal piece of legislation, now poised for a vote in Congress, requires a simple majority for its enactment. If passed, it would circumvent an unprecedented debt default potentially looming as early as June 5. President Biden characterises the proposed legislation as a "compromise", outlining a two-year budget plan which, in essence, holds non-defence spending steady for 2024.
3 mins ago
In his victory speech, the 69-year-old newly re-elected President Erdogan pledged to unite a country deeply divided. Claiming 52.1 per cent of the run-off vote, Erdogan emerged victorious yet again. His challenger, Kemal Kilicdaroglu, however, accused the President of deploying state machinery to his advantage, including the alleged denial of airtime on state television.
1 hour ago
The governor of Sudan's Darfur region has urged citizens to arm themselves amid fears of escalating violence. A shaky nationwide truce is due to expire tomorrow.
1 hour ago
As treaty talks over plastic pollution begin in Paris, we find out why recycling schemes, rather than reducing use, may not be that green of an idea. We take a look at different reactions to Recep Tayyip Erdogan's re-election. Reactions to Juliette Triet’s Palme D'or speech also continue to roll in, with the French media having widely different takes. Finally, we find out about a bear with a sneaky sweet tooth.
1 hour ago
Crackdowns on climate activists in Germany and Italy are evidence that protests are gaining attention. Authorities must navigate both public opinion and criminal law in their response.