Naira

The naira plunged against the US dollar on Monday after Nigeria’s government scrapped its fixed exchange rate and allowed market forces to determine the currency’s value “Trading started at 9:00 am this morning. All the 24 commercial…

The Naira on Wednesday weakened further against the dollar at the parallel market, barely 24 hours after the Central Bank of Nigeria (CBN) moved for the adoption of a flexible exchange rate. The naira sold at N350, weakening further…

Seems the rates have gone up a bit from the N220-N250-=$1 recorded yesterday. Photo is courtesy of Guardian NGR.

Again, the Naira seems to have gained more power against the dollar as compared to yesterday. Hopefully it stays this way. Photo courtesy of Guardian NGR.

The Naira has hit an all time record low of 338 against the greenback on Friday, a day after the Bankers Committee announced its decision to stop providing foreign exchange for school fees and medical bills payment, Punch Reports The…

Jeez I'm in shock. I was still lamenting to a friend yesterday about dollar exchanging for 290 and now its up again. On Tuesday, the Naira again depreciated to exchange at N300 to the dollar at the Bureau De Change (BDCs) segment…

Interesting article on how Nigeria's Naira has struggled against the dollar since the 80s. Read below: Since 1986, the Nigerian naira’s relationship with the US dollar (and other foreign currencies) has been erratic, (un)predictable,…