© Shutterstock Nigeria’s currency, the Naira, experienced a turbulent week with significant fluctuations across different exchange platforms. Amidst ongoing liquidity issues and a lack of intervention from the Central Bank of Nigeria (CBN) since October, the Naira’s value has been under considerable pressure. On the official segment of the Nigerian Autonomous Foreign Exchange Market (NAFEM),
© Reuters. The Nigerian Naira continues to experience significant depreciation, despite the Central Bank of Nigeria’s attempts to strengthen the local currency. The Naira’s value has been on a downward trajectory since June 2023, when forex reforms triggered the floating of the local currency from N471.67 per dollar, marking the beginning of its depreciation journey.
© Reuters. FILE PHOTO: A man counts Nigerian naira notes in a market place in Yola, Nigeria, February 22, 2023. REUTERS/Esa Alexander/File Photo ABUJA (Reuters) -Nigeria’s naira hit a record low of 980 per dollar on the official market on Tuesday, Refinitiv data showed, mirroring weakness on the parallel market, as persistent dollar shortages plague
© Reuters. Nigeria’s external debt has surged by N13.38 tn ($17.38 billion) in the second quarter of 2023 due to a significant devaluation of the naira and changes in foreign exchange policies, according to data from the Debt Management Office (DMO). The country’s external debt rose to N33.25 tn ($43.16bn) in Q2 2023 from N19.64
