Search

Naira Faces Renewed Pressure Despite Increased Foreign Currency Inflows

Subscriber only Subscriber only
  • Naira trades at N1508.453 to the dollar amid ongoing volatility
  • Central Bank reforms lead to temporary rise in foreign currency inflows, but sustainability is questioned

 

Lagos, Nigeria – The Nigerian naira has come under renewed pressure, trading at N1508.453 to the dollar on Thursday, according to figures on the Central Bank of Nigeria (CBN). The naira also traded at N1,510 on the parallel market, also known as the black market. The currency has held above these rates for several weeks.

You need an active subscription to continue reading this article.

Recent Business

Woman selling fruit in Tanzanian Market. Photo by David Cashbaugh @ Unsplash
Amid tariff wars, Africa seals $48bn to boost intra-trade
Read More »
Photo by Mwanje Henry @ Unsplash
Uganda’s pension giant posts record $7.4bn assets
Read More »
Gold bars. Photo by Jingming Pan @ Unsplash
Can Ghana’s gold refinery plan deliver real value?
Read More »

Recent Politics

Nairobi, Kenya © Unsplash
Kenya-Somalia tensions threaten vital khat trade
Read More »
Ivory Coast supporters of a political party on the street. Photo by Yanick Folly @ Unsplash
Ivory Coast vote: Is Ouattara headed for a one-man race?
Read More »
Loading of maritime containers aboard vessels in a seaport. Photo @ Unsplash
Is Ethiopia’s sea access dispute with Eritrea a path to conflict?
Read More »

Latest Posts

Latest news insights