N280

Naira on road to recovery, rises to 280 against dollar

The Nigerian currency is finally gaining momentum after over a month of sharp decline against the American greenback. The naira, which was trading at 310 to a dollar on Tuesday, showed healthy signs of recovery on Wednesday to trade for 280 against the United States currency. Closing at 375 to a dollar on Monday, the... Read More

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dollar, N280, naira

December 18, 2015

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Bittersweet year-end: Naira plunges to record low, Excess Crude Account rises to $2.257bn

After selling for N269 against the United States dollar on Wednesday, the Nigerian currency- naira -crashed further on Thursday, to N280 at the parallel market. The recent decline of the naira is as a result of the Central Bank of Nigeria’s decision to stop the sale of foreign exchange to over 1,600 Bureau De Change operators. According to the... Read More

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