Naira news

Here are some recent news updates about the Nigerian Naira:

Currency Crisis Deepens: Naira Plunges to Record Low

The Nigerian Naira has continued to depreciate, hitting a record low of 540 to the US dollar on the parallel market. The crisis has been exacerbated by a shortage of foreign exchange, leading to a surge in prices of goods and services.

CBN Introduces New Forex Policy

The Central Bank of Nigeria (CBN) has introduced a new foreign exchange policy aimed at stabilizing the Naira. The policy allows for the sale of foreign exchange to Bureau de Change (BDC) operators at a fixed rate of 360 to the dollar.

Naira Loses 10% Value in One Week

The Naira has lost 10% of its value in the past week, trading at 520 to the dollar on the parallel market. The decline has been attributed to a shortage of foreign exchange and a surge in demand for dollars.

Nigeria's Inflation Rate Rises to 12.4%

Nigeria's inflation rate has risen to 12.4%, the highest in over two years. The rise in inflation has been attributed to the depreciation of the Naira and a surge in prices of goods and services.

Naira to Dollar Exchange Rate Hits 500

The Naira has hit a new low, trading at 500 to the dollar on the parallel market. The decline has been attributed to a shortage of foreign exchange and a surge in demand for dollars.

CBN Intervenes in Forex Market

The Central Bank of Nigeria (CBN) has intervened in the foreign exchange market, injecting $100 million into the system. The move is aimed at stabilizing the Naira and addressing the shortage of foreign exchange.

Naira to Dollar Exchange Rate Hits 480

The Naira has hit a new low, trading at 480 to the dollar on the parallel market. The decline has been attributed to a shortage of foreign exchange and a surge in demand for dollars.

Nigeria's Economy Contracts by 2.6%

Nigeria's economy has contracted by 2.6%, the first contraction in over 20 years. The decline has been attributed to a decline in oil production and a shortage of foreign exchange.

Naira to Dollar Exchange Rate Hits 460

The Naira has hit a new low, trading at 460 to the dollar on the parallel market. The decline has been attributed to a shortage of foreign exchange and a surge in demand for dollars.

These are just a few of the recent news updates about the Nigerian Naira. The currency has been experiencing a lot of volatility in recent times, and it's essential to stay informed about the latest developments to make informed decisions about your finances.