Friday, 29th March 2024
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Dollar

16 Nov
Sir: The trend in the global financial markets is a wake-up call for those who manage the Nigerian economy.
1 Nov
A foreign rating agency in a recent report joined Nigerians in bemoaning the fate that has befallen the nation’s legal tender, the naira, which had exceeded N1000 to the dollar threshold but seems to be recovering slowly at a little above N800 to the dollar.
1 Sep 2023
The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 23 pips to 7.1788 against the dollar on Friday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by two percent from the central parity rate each trading day.…
18 Aug 2023
Naira inched close to a 15 per cent gain against dollar in the parallel market within a week, trading around N820/$ in Lagos and Abuja yesterday evening.
26 Jul 2023
The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 111 pips to 7.1295 against the dollar on Wednesday.
24 Jul 2023
Dissatisfied by the prolonged foreign exchange crisis, stockbrokers have stressed the need for investors to consider hedging their portfolio by purchasing dollar-denominated assets (foreign stocks, dollar mutual funds, Eurobonds and dollar-fixed deposits) to mitigate the impact of the currency devaluation.
30 Jun 2023
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 50 pips to 7.2258 against the dollar Friday, according to the China Foreign Exchange Trade System.
18 Jun 2023
The Central Bank of Nigeria's ("CBN") announcement of "operational adjustments to the foreign exchange market" last week is, in my opinion, the single most important domestic economic decision Nigeria has made in recent years — one that will have a significant and advantageous impact on the Nigerian market and, as Africa's largest economy, the region…
9 Jun 2023
The world's largest cryptocurrency exchange Binance said late Thursday it was halting US dollar deposits and encouraged clients to withdraw their dollars by early next week, following charges leveled by the government.

Latest

17 mins ago
President Recep Tayyip Erdogan's obsession ever since losing the country's economic capital to the opposition in 2019.
25 mins ago
Tokyo markets closed higher on Friday after the Dow and S&P 500 hit new highs on Wall Street, while investors awaited US economic data due later in the day.
31 mins ago
From the National Chairman of the ruling All Progressives Congress (APC), Dr Abdullahi Umar Ganduje, came assurances of better days for Nigerians grappling with hardship as a result of the high cost of living.
40 mins ago
The Central Bank of Nigeria (CBN) has increased the minimum capital requirement for Deposit Money Banks (DMBs) with national licences from N25 billion to N200 billion.
50 mins ago
The FCT Commandant of the Nigeria Security and Civil Defence Corps (NSCDC), Mr Olusola Odumosu, has inaugurated the Corps Female Strike Force to protect schools in the territory.
3 hours ago
About six months after President Bola Tinubu recalled all career and non-career ambassadors in diplomatic missions worldwide, their offices in embassies and consulates have remained vacant.
3 hours ago
Banks have 24 months to recapitalise their capital base to at least N500 billion international authorisation capitalisation to continue operations in the country, the Central Bank of Nigeria (CBN) has said.
3 hours ago
Disconnected Subscribers Identification Module (SIM) cards as a result of unverified National Identification Number (NIN) may hit 50 million from the second phase of the disconnection of unlinked SIMs to NIN exercise, which begins today, March 29.
3 hours ago
Nigeria’s sole surviving club in CAF’s inter-club competitions, Rivers United, are billed to host the first leg of the Confederation Cup final if they qualify for the title game.
3 hours ago
The Central Bank of Nigeria (CBN) has auctioned N1.64 trillion worth of treasury bills.