Exchange rates

Presidency Denounces New York Times’ Report, Says Tinubu Inherited Dead Economy

Jun 16, 2024. by Praise Ben

Presidency Denounces New York Times’ Report, Says Tinubu Inherited Dead Economy. The government defends recent policy measures, such as ending the fuel subsidy and unifying exchange rates, as necessary steps to stabilize the economy and restore confidence. The Presidency highlights positive developments like trade surplus, foreign investment, and efforts to control inflation, particularly food prices, … Read more

IMF Endorses Nigeria’s FX Reforms, Backs Unified Exchange Rate System

Jun 17, 2023. by Praise Ben

The IMF supports Nigeria’s central bank’s policy to unify exchange rates, allowing market forces to determine the rate. The new policy ensures that certain requests will still be processed through the Investors and Exporters (I&E) window. All forms of exchange rate segmentation are abolished, and the “Willing Buyer, Willing Seller” model will be reintroduced at … Read more

Naira Closes N359 To Dollar At Parallel Market

Jul 2, 2019. by Otunba T.J Abass

The naira on Monday traded at N359 to the dollar at the parallel market in Lagos. The pound sterling and the euro exchanged at N462 and N407, respectively. At the Bureau De Change (BDC) window, the naira was sold at N360 to the dollar, while the pound sterling and the euro closed at N462 and … Read more