May 19, 2024

The Naira fell to a fresh record low, extending its losses since President Bola Tinubu’s call for changes in exchange rate policy.

The naira weakened 1% to 471.9 to the dollar as of 5:33 p.m. in London, the biggest drop since December. The currency has been weakening since Tinubu used his inauguration speech last month to urge the central bank to close the gap between the country’s official and unofficial exchange rates.

The spread between the managed and parallel markets in Africa’s biggest economy can be as wide as 60%. President Tinubu’s call on the central bank to move toward a uniform rate has sparked expectations that the currency will be devalued to close the gap.

Fitch Ratings anticipates a phased-in exchange-rate liberalization, moving the official rate closer to a market-clearing level, which would ultimately represent a “positive development for Nigeria’s credit profile,” according to a note Thursday.

1,058 thoughts on “Naira falls to record low in 2023”

  4. Fethiye seans escortlar bile eğlencelidir. Sadece olaya değer veren kadınları bulmak konusunda ısrarcı olmalısınız, Fethiye Escort, tüm mesele bu. Dilerseniz eğer sizler için kısaca, ortam kadınları ile nasıl anormal derecede samimi sıcak zaman geçirirsiniz konusundan bahsedelim, ne dersiniz?

    Reply

  6. Hello there I am so glad I found your weblog,
    I really found you by accident, while I was researching on Google for something else, Anyways I am here now and would
    just like to say many thanks for a fantastic post
    and a all round interesting blog (I also love the theme/design), I don’t have time to read through
    it all at the minute but I have bookmarked it and also added your
    RSS feeds, so when I have time I will be back to read more,
    Please do keep up the superb jo.

    Reply

  7. Hello there! I could have sworn I’ve visited this site before but after looking at many of the articles
    I realized it’s new to me. Nonetheless, I’m definitely pleased I came
    across it and I’ll be bookmarking it and checking back frequently!

    Reply

  9. It is appropriate time to make some plans for the
    long run and it’s time to be happy. I’ve learn this publish
    and if I may just I wish to counsel you some attention-grabbing things or
    suggestions. Maybe you could write next articles regarding
    this article. I want to learn more issues approximately it!

    Reply

  10. Hello there, You’ve done an incredible job. I’ll definitely
    digg it and personally recommend to my friends.
    I’m sure they’ll be benefited from this website.

    Reply

  11. It’s appropriate time to make a few plans for the long run and it
    is time to be happy. I have read this post and if I may just I desire to recommend you few attention-grabbing issues or advice.
    Maybe you could write subsequent articles regarding this
    article. I want to learn even more issues approximately it!

    Reply

  12. I absolutely love your blog and find most of your post’s to be just what I’m looking for.
    Does one offer guest writers to write content in your case?

    I wouldn’t mind composing a post or elaborating on a number of the subjects you write in relation to here.
    Again, awesome web site!

    Reply

  16. Hello, I think your website might be having
    browser compatibility issues. When I look at your blog in Firefox, it looks fine
    but when opening in Internet Explorer, it has some overlapping.
    I just wanted to give you a quick heads up! Other then that,
    great blog!

    Reply

  17. You actually make it appear really easy along with your presentation but I to
    find this topic to be actually one thing which I feel I’d by no means understand.
    It sort of feels too complex and very huge for me. I’m taking a look forward for your next publish, I’ll attempt
    to get the cling of it!

    Reply

  20. Spot on with this write-up, I honestly believe this site needs much more attention.
    I’ll probably be back again to read more, thanks for the information!

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

Related News

Soldiers and Traders Clash at Banex Market in Abuja

May 18, 2024

Afenifere Calls on Tinubu to Invoke Executive Order for State and Local Police

May 18, 2024