Tags : naira

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Naira depreciates as external reserves decline persists to $36.12bn

The naira last week buckled under the weight of increased  dollar demand,  depreciatiating in both   the parallel market and the Investors and Exporters (I&E) window, even as the nation’s external reserves   declined further to $36.12 billion last week.   Data from the Central Bank of Nigeria (CBN) showed that the external reserves fell to $36.116 billion Wednesday last week from […]Read More

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CBN Bows To Pressure, Devalues Naira Again

• ‘Timing coincidental, nothing to do with IMF, World Bank’• Economists advocate currency, lifestyle audit• Moghalu, Sanusi, others disagree on exchange rate unification The country’s fiscal state faces tougher times as the Central Bank of Nigeria (CBN) bowed to pressure, last week, and further devalued the local currency. The adjustment of the exchange rate at […]Read More