Naira volatility
Surging FX demand fuels naira volatility – Oyedele Warns
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has pointed to discretionary demand for foreign exchange (FX) as a central factor driving the naira’s volatility, stressing that sustainable currency stability hinges on addressing this challenge. Speaking at the Nigerian Economic Summit Group’s (NESG) half-year review of the economy in […]
Naira Falls Against Dollar at Official Exchange Market
Nigeria’s local currency, the naira, further weakened against the United States dollar at the official foreign exchange (FX) market on Friday, closing at ₦1,602.18 per dollar, according to data published on the Central Bank of Nigeria (CBN) website. This marks a ₦5.49 loss from the ₦1,596.69 recorded before the mid-week Workers’ Day holiday on Wednesday, […]