Naira firms against dollar across FX markets

Nigeria’s currency on Wednesday strengthened against the dollar across foreign exchange market segment, driven by forces of demand and supply. The local currency gained 0.21 percent as the dollar closed at N474 on Wednesday as against N475 on Tuesday at the parallel market. Naira remained stable at the Bureau De Change (BDC) segment of the……

New year, old worries for naira

Nigeria’s currency, the naira, ran into troubled waters in 2020, and although the New Year is widely expected to be better than the last, there are some familiar challenges lying in wait for the currency. Nigeria devalued its currency a record three times against the dollar last year, and the general consensus of analysts is……

Nigeria’s naira firms as U.S Congress confirmation of Biden’s win boosts risk sentiment

Nigeria’s naira firmed in early Thursday trade against the dollar, which languished near its lowest in nearly three years, after Congress certified the victory of the president-elect, Joe Biden, clearing the way for a larger fiscal stimulus and boosting risk sentiment. Georgia Democrats Raphael Warnock and Jon Ossoff have also been declared winners in the……