Exchange rate
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The naira recorded a significant drop against the dollar weekly, from March 28 to April 4, 2025 amid United States of America President Donald Trump’s administration tariffs announcement. The Central Bank of Nigeria’s exchange data in the period under review showed that the naira weakened by N30 per dollar week-on-week. Daily Nigerian Foreign Exchange at…
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We brought you reports from Bloomberg earlier that the pound could slump as much as 8% – and now we have some commentary from the trading floor about what is anticipated. As markets opened this morning, the pound headed towards the $1.21 mark, the lowest level since November 2023. But Tony Redondo, founder at Cosmos…
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The pound has lost some of its earlier gains against the dollar after Donald Trump took to his Truth Social platform to declare that the Washington Post’s story on his tariff policy is wrong. “The story in the Washington Post, quoting so-called anonymous sources, which don’t exist, incorrectly states that my tariff policy will be…
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The Centre for the Promotion of Private Enterprise, CPPE, has urged the Central of Nigeria and the Customs Service to reverse a 42.5 per cent hike in the exchange rate import duty, saying it will impoverish more Nigerians. The Director of CPPE, Dr Muda Yusuf, disclosed this on Friday in his statement while reacting to…
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Nigeria’s currency has continued to experience free-fall against the Dollar two months after the Central Bank of Nigeria’s floating of Naira, a decision that has further worsened the woes of Africa’s largest economy. From 14 June, when CBN liberalized the forex market, till date, the country’s currency has continued to slump against the Dollar from…
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