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Tag: Dollar

Naira drops 0.64% after Emefiele's arrest - Report
Business

Naira drops 0.64% after Emefiele’s arrest – Report

The naira sank further against the dollar on Friday at the Investors and Exporters window, trading for N472.50 to the dollar. According to The Punch, in comparison to the N469.50 it exchanged for the dollar on Thursday, the local currency experienced a 0.64 percent decline. On Friday, the open indicative rate reached a high of N471.32 […]

Naira and Dollar displayed
Business

Naira falls at parallel market, gains on I&E window

Naira experienced a decline of 0.54 per cent against dollar, closing at ₦750 on the black market while it slightly strengthened by 0.06 per cent closing at ₦462.73/USD at the Investor and Exporter window. Data from the Financial Market Dealer Quotations revealed that the Nigerian naira had a trading range as low as N460 and […]

Naira and Dollar displayed
Business

Naira drops N462 against dollar at official market

The Naira-to-US Dollar exchange rate at the Investors and Exporters window decreased to N462.33 per dollar on Tuesday which represents a 0.14 per cent drop from the previous trading session’s closing rate of N463 per one dollar. This information was reported in Nairametric’s daily currency update, which was compiled from FMDQ Exchange. According to the […]

Banks reduce forex sales as scarcity persists
Business

Dollar drops as inflation falls behind projection

The value of the dollar fell sharply on Wednesday after data indicated that the increase in U.S. consumer prices in March was lower than projection. According to CNBC, this development may decrease the probability of the Federal Reserve continuing to raise interest rates. In March, the Consumer Price Index experienced a rise of only 0.1%, […]

News

Gold prices rise, US dollar weakens as European markets reopen

Gold prices climbed higher on Tuesday as the US dollar gave up some of its gains, and European markets reopened after the Easter holiday. Spot gold was up by 0.7% to $2,004.10 per ounce, while US gold futures gained 0.8% to $2,018.80. Investors are awaiting US consumer price data and minutes from the Federal Reserve’s […]

South African rand bows to rising dollar
News

South African rand bows to rising dollar

South Africa’s rand experienced a decline on Monday against a strengthening US dollar, with investors anticipating the central bank’s verdict on monetary policy later this week. As of 06:35 GMT, the rand was trading at 18.2050 versus the dollar, reflecting a decrease of 0.26% from its previous close. In contrast, the dollar index, which measures […]

Lebanon to sell unlimited US dollars to save crashing pound
News

Lebanon to sell unlimited US dollars to save crashing pound

Lebanon’s central bank governor, Riad Salameh has announced that the bank will sell unlimited amounts of U.S. dollars to counter the escalating devaluation of the Lebanese pound. Salameh fixed a new rate of 90,000 Lebanese pounds per dollar on the central bank’s exchange platform, Sayrafa, up from 70,000 on March 1. However, the pound’s parallel […]

Banking

GTBank halts dollar transactions on naira Mastercards

  Guaranty Trust Bank has suspended all international transactions on its naira MasterCards. This was disclosed in a statement issued by the Bank through its social media platforms on Thursday evening. “Dear Customer, we write to inform you that you will no longer be able to use your Naira Mastercard for international online and POS […]

Pound falls more than 1% after BoE move
Economy

Pound falls more than 1% after BoE move

The British pound sank Thursday by more than one per cent against the dollar after the Bank of England intervened in the bond markets to head off a fresh financial catastrophe. Sterling slid as low as $1.0763 in early morning London deals one day after the BoE snapped up long-dated government bonds, or gilts, to […]

Pound falls more than 1% after BoE move
Economy

Pound hits 37-year low against dollar

The pound fell to a fresh 37-year low against the dollar Friday as traders grow increasingly worried about the economic outlook with central banks ramping up interest rates to fight runaway inflation. Sterling fell as low as $1.1151 — its weakest since early 1985 — after the Bank of England on Thursday hiked borrowing costs […]

News

Bread scarcity looms as bakers threaten strike

The Association of Master Bakers and Caterers of Nigeria has issued a two-week ultimatum to the Federal Government to address various challenges facing the industry. The Kogi State Chairman of the association, Gabriel Adeniyi, stated this while addressing journalists in the state. He said, “The Master Bakers and Caterers nationwide resolved to down tools and […]