Naira drops to 493 as dollar demand rises

The naira fell further against the United States dollar at the parallel market on Friday to 493, from 490 on Thursday as increased dollar demand weighed on the market. Forex traders said the local unit plummeted following an increased demand for the dollar ... Full Story...

Naira weakens to 470 on fresh dollar scarcity

The naira weakened to 470 on Thursday, from 465 on Wednesday, as fresh dollar scarcity hit the official and parallel foreign exchange markets. The local currency had appreciated to around 450 after security agents carried out series of raids on Bureau De Chan... Full Story...

Naira vs Dollars- N445:$1

The naira sustained its decline on the parallel market as it slipped to N445 to the dollar yesterday, lower than the N440 to the dollar it closed on Friday as pressure and activities of speculators continued to hurt the nation’s currency. But on the inter... Full Story...