Dollar drops below N400/$ for first time in 7 months

For the first time in seven months, the dollar fell below the psychological N400 barrier, when the greenback traded at N399 to the dollar in Lagos and exchanged at N395 in Abuja, lower than N410 at which it traded on Tuesday.

With the gains made by the local currency in the last five weeks, the naira inched closer to one of the Central Bank of Nigeria’s (CBN) key foreign exchange policy objectives of an exchange rate convergence.

Comments

Post a Comment

Popular posts from this blog

Nigerian Lawyer -Tunde Okewale awarded MBE in 2016 Queen's Honours List'

Image
“From GQ Cool List to Queen's Honours List”. The award was made in recognition of his "services to the community and disadvantaged young people". Tunde Okewale, Barrister at Doughty Street Chambers and founder of Urban Lawyers, is a popular figure on social media and made GQ’s 2014 “cool” list. Background and achievements Tunde is 32 years of age and a Barrister at Doughty Street Chambers. He was raised on a council estate in Hackney, East London. He is the eldest of four children and was the first person in my family to attend university and obtain a degree. During his studies, Tunde undertook numerous simultaneous part-time jobs in the food and retail industry, to enable him to contribute towards his household. Consequently, his academic studies suffered, and he obtained a 2.2 in his undergraduate degree. Career advisors and professionals told him that he would never make it. Despite this setback, Tunde ploughed on. He involved himself in community work a...
Read more

PDP Apologise to Jonathan, Nigerians for your lies,' Party tells APC

Image
It also accused the Muhammadu Buhari administration of not fighting corruption but "sharing dollars in Central Bank of Nigeria and doing illegal forex deals". The Peoples Democratic Party (PDP) has demands apologies from the All Progressive Congress (APC) to former President  Goodluck Jonathan  for the lies the party ruling party told against him. The party also asked the APC to apologise to Nigerians for the propaganda it dished out during the the 2015 election campaign. The PDP said this on Saturday, June 18, in a series of tweets via its handle @PdpNigeria. It also accused the  Muhammadu Buhari  administration of not fighting corruption but "sharing dollars in Central Bank of Nigeria and doing illegal forex deals". The opposition party said what the present government successfully did in one year was shut down the economy, ruined businesses, drove away investors and gave excuses. It also condemned Buhari's silence on the killing of 18 wome...
Read more