Nigeria’s foreign exchange market was tension-soaked yesterday, as the Naira raced towards N500/USD1. It closed at N490/ USD1 in the parallel market, with dealers expecting further rise today to hit the dreaded N500 mark.
Surprisingly, the Naira appreciated significantly to N305/ USD at the official interbank market same day, although dealers said foreign exchange was not available to most of the bids.
Meanwhile, the global investment bank, Morgan Stanley of United States of America, has warned that its MSCI Nigeria Indexes would be reclassified as Stand-alone next year, if currency restriction was instituted by the Central Bank of Nigeria, CBN. Also the World Bank said, yesterday, that Nigeria and South Africa would drag down Africa’s growth rate by 1.6 per cent in 2016, as strings of negative economic indicators continued.
Subscribe to:
Post Comments (Atom)
NICE ONE: EFCC to arraign Cubana Chief Priest for Naira abuse
The Economic and Financial Crimes Commission (EFCC) has filed a three-count charge against popular Instagram celebrity Pascal Okechukwu, a...
-
Lizzy Anjorin On Husband-Snatching Scandal: I’m Not Dating Married London Man Wese Peckam, His Pregnant Wife Telling Lies About Me
-
The Nigerian street hawker, Salle who had gained popularity after singing beautifully in a viral video has revealed that the famous Americ...
-
UNCATEGORIZED #BBNaija: “Cee-C insulted me”- Show host Ebuka Obi-Uchendu By NellyBillz | April 27, 2018 0 Comments Pin It...
No comments:
Post a Comment