• Naira may hit 500 per dollar, says Obiano

    Naira may hit 500 per dollar, says Obiano

    According to reports, the Anambra State Governor, Chief Willie Obiano, has said that the naira will continue to fall against the dollar till it reach N500 to the greenback.

    Obiano said this during the commencement of the Anambra State Fire and Safety Summit in Awka on Wednesday.

    The governor, who expressed fear that the dollar would continue to rise against the naira, said it would take no fewer than 18 months for the economic downturn in the country to subside.

    He said, “People […]

  • Naira Falls to All Time Low…You Won’t Believe the New Exchange Rate Per Dollar

    Naira Falls to All Time Low…You Won’t Believe the New Exchange Rate Per Dollar

    The naira has fallen again against the dollar, this time to an all time low. The new exchange rate will surprise you.

    On Wednesday, a day after the Central Bank of Nigeria’s Monetary Policy Committee hiked interest rates to lure foreign investors back into local assets, the naira fell against the dollar at the interbank foreign exchange market to an all-time low of 334.50.

    Reuters reports that the naira had closed at 310 against the interbank market on Tuesday. About $10m was […]