Search

Naira Hits Historic Low as Rates Bite

  • Nigeria’s naira hits a record low of 1,421 per dollar on the official market, following a revision of exchange rate methodology.
  • Central Bank of Nigeria faces criticism over multiple exchange rates and currency management

 

Nigeria’s naira has plummeted to a record low against the US dollar, signalling deepening economic woes for Africa’s largest economy.

You need an active subscription to continue reading this article.

Recent Business

breaking_news
Côte d’Ivoire Inflation Slows to 0.5 %, a Five‑Year Low
Read More »
generic-1-1024x683
Egypt Cuts Key Rates by 225 Basis Points, Opening a Long‑Awaited Easing Cycle
Read More »
guilherme-cunha-4zwozQxDbD4-unsplash-2
Contract Impasse Halts $650 Million Temane Gas Plant in Mozambique
Read More »

Recent Politics

generic-1-1024x683
Militant Group Claims Pipeline Attacks in Niger Delta, Escalating Political Tensions
Read More »
yonko-kilasi-juex154AuVA-unsplash
Kenya Moves to Broaden Money Laundering Oversight in Exit Bid
Read More »
generic-1-1024x683
Tinubu’s Emergency Rule in Rivers Sparks Constitutional Backlash
Read More »

Latest Posts

Latest news insights