LAGOS MARCH 24TH (NEWSRANGERS)-The lingering foreign exchange scarcity in the country has continued to worsen even as the exchange rate on the parallel market is inching towards N590/$1, The PUNCH has learnt. The development may lead to massive job loss in the manufacturing industry, among other sectors, according to the Manufacturers Association of Nigeria. The…
LAGOS DECEMBER 29TH (NEWSRANGERS)-Popular Nigerian humour merchant, Basketmouth, has called for the return of cowries as a legal tender. Reacting to the current exchange rate, the comic act put together a photo collage consisting of all the Nigerian currency from N5 to N1000 notes and noted the total sum is less than $5. He wrote:…
LAGOS NOVEMBER 3RD (NEWSRANGERS)-The Taliban has banned the use of foreign currencies in Afghanistan, a move that could further disrupt an economy on the brink of collapse. “The economic situation and national interests in the country require that all Afghans use Afghani currency in their every trade,” the Taliban said. The economy is struggling due…
LAGOS SEPTEMBER 3RD (NEWSRANGERS)-The naira yestaerday traded at all time low of N530 to dollar at the parallel market. The naira also dropped among other major currencies as it exchanged at N620/Euro, N720/ British Pounds Sterling. Also, the Central Bank of Nigeria (CBN) yesterday lifted Post No Debit (PND) order it placed on 33 Bureaux…
LAGOS AUGUST 20TH (NEWSRANGERS)-The naira fell further against the dollar at the parallel market on Wednesday after staying steady at 515/$ in recent days. The local currency fell to 517 against the US currency at the parallel market on Wednesday. At the Investors and Exporters’ window, the naira weakened by 0.06 per cent to close…
LAGOS JULY 29TH (NEWSRANGERS)-The naira fell slightly to the dollar at the parallel market few hours after the Central Bank of Nigeria on Tuesday announced the discontinuity of forex supplies to the Bureau de Change Operators in the country. The CBN Governor, Godwin Emefiele, announced the end of forex sales and new licence approval after…
LAGOS JUNE 15TH (NEWSRANGERS)-The value of the naira to the dollar fell from 196.99 in December 2015 to 410 in April 2021, reflecting a 51.95 per cent decline despite the various foreign exchange policies introduced by the Central Bank of Nigeria to strengthen the currency. According to a monthly document obtained from the CBN’s website,…
LAGOS FEBRUARY 1ST (NEWSRANGERS)-Overview: The currency of a country tells you a substantial amount about its economy as well as living standards of the people. As diverse as the African continent and her countries are, so are the currencies which see high daily volumes of trade. Tunisian Dinar (TND) The Tunisian Dinar trades at around…