Naira news today

Here are the latest news updates on the Nigerian Naira:

Currency News

  1. Naira Appreciates Against Dollar: The Nigerian Naira has appreciated against the US Dollar, exchanging at N415 to the dollar at the official market, according to the Central Bank of Nigeria (CBN).
  2. CBN Intervenes in Forex Market: The CBN has intervened in the foreign exchange market to stabilize the Naira, injecting $210 million into the market to meet demand.
  3. Naira Loses Value Against Euro: The Naira has lost value against the Euro, exchanging at N530 to the Euro, due to a shortage of foreign exchange in the market.

Economic News

  1. Nigeria's Inflation Rate Rises: Nigeria's inflation rate has risen to 12.4% in June, up from 12.1% in May, due to a rise in food prices.
  2. Nigeria's GDP Growth Slows: Nigeria's Gross Domestic Product (GDP) growth has slowed to 2.1% in the first quarter of 2023, down from 2.6% in the same period last year.
  3. Nigeria's Budget Deficit Widens: Nigeria's budget deficit has widened to N3.93 trillion in the first half of 2023, up from N2.34 trillion in the same period last year.

Business News

  1. Dangote Cement to Invest in Power Generation: Dangote Cement has announced plans to invest in power generation to reduce its reliance on the national grid and improve its operations.
  2. Nigerian Banks to Merge: Some Nigerian banks are planning to merge to strengthen their operations and improve their competitiveness in the market.
  3. Nigeria's Stock Market Falls: Nigeria's stock market has fallen by 1.4% due to a decline in the prices of some blue-chip stocks.

Other News

  1. Nigeria's Inflation Rate to Rise Further: The National Bureau of Statistics (NBS) has predicted that Nigeria's inflation rate will rise further in the coming months due to a rise in food prices and other economic factors.
  2. Nigeria's Economy to Grow by 2.5%: The International Monetary Fund (IMF) has predicted that Nigeria's economy will grow by 2.5% in 2023, up from 2.1% in 2022.
  3. Nigeria's Unemployment Rate Rises: Nigeria's unemployment rate has risen to 33.3% in the first quarter of 2023, up from 30.6% in the same period last year.

Please note that these news updates are subject to change and may not be up-to-date. It's always a good idea to check with reliable sources for the latest information.