VAM News Update THE exchange rate between the naira and dollar opened the week at N1,200/$1 on P2P platforms on Monday as traders continue to face demand pressures amidst dwindling supply. Checks…
Tag: Naira
Worries as Naira Slumps Against US Dollar Again
VAM News Update VAM News Update Nigeria’s currency, the Naira, has further declined due to the increasing scarcity of the US Dollar. VAM News learnt that the naira started trading at 1,175/$…
Why naira is in free fall – Ex-minister Aganga Shields Light
A former Minister of Finance, Olusegun Aganga, has explained that the naira would continue to be weak if the country remains an import-dependent country. Aganga speaking on Thursday at the 3rd…
As the dollar soars, it spreads hardship across Nigeria
VAM NEWS UPDATE Industries in the country are battling for survival owing to the continued slide of the naira against the dollar. The naira Thursday traded at between N1,155 and N1,160/dollar at…
Naira hits 9% depreciation, trades N848/$
THE naira, on Tuesday, fell to N848 at the investors’ and exporters’ (I&E) window — the country’s official trading window. The local currency fell by 8.9 percent from the N778.80 it traded…
More Pains As Naira Plunges To 1,025/$
VAM News Update THE naira fell further on Tuesday as it exchanged for the dollar at the parallel market between 1,005/$ and 1,025/$. Owners of small-scale enterprises, Nigeria Employers’ Consultative Association,…
Naira among Africa’s worst currencies, falls by 40% –W’Bank officially reveals
The Nigerian naira is among the worst-performing currencies in Africa, the World Bank has said. It noted that the currency weakened by nearly 40 per cent against the US dollar since…
BREAKING: Naira collapses against Dollar at Investors, Exporters Window
The naira on Wednesday depreciated against the dollar as it exchanged at N756.21 at the Investors and Exporters window. The naira lost 1.48 per cent compared to the N745.19 it exchanged…
Naira gains marginally at official foreign market
VAM News Update According to data from the FMDQ website, the Naira rate closed at N755.27/$1 on Friday, indicating an appreciation of N20.04 or 2.6 per cent compared to the previous session’s…
Cardoso Proposes Total CBN ‘Reset’ As Naira Plunges To 1,000/$
VAM News Update Olayemi Cardoso, who was confirmed Tuesday by the Senate as governor of the Central Bank of Nigeria (CBN), alongside his deputies, has proposed to reset the apex bank, as…