Fitch Ratings, one of the three biggest rating agencies in the world, has downgraded two of the biggest banks in Nigeria, at the same time attesting to the viability of
Tag "naira"
The new foreign exchange regime is failing to bridge the gap between parallel and interbank market rates of the naira to foreign currencies, TheCable can report. At the introduction of
The naira is currently trading at 364 to the British pound but Nigerians can barely buy or sell. The local currency, which traded at 376 to the pound on Monday,
The naira on Friday continued to lose steam against the dollar at the parallel market, in spite of the new forex regime, but it gained against the British pound. The
The new foreign exchange regime implemented by the Central Bank of Nigeria (CBN) saw the naira “effectively devalued” from 197
Deposit money banks (DMBs) are still charging their customers parallel market rates for foreign exchange transactions done via the bank’s
The Naira on Monday depreciated further against the dollar at the parallel market, losing N2 to exchange at N347 to
The Nigerian parallel market is perhaps the only market in the world to be unperturbed by all the drama in
Against the grain, the UK voted to leave the European Union on June 23, 2016, and saw the crash of
Exactly one year ago – June 23, 2015 – The Central Bank of Nigeria (CBN) released a circular, listing 41
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