Tag Archives: Nigerian naira

DESPITE a 46.49% surge in foreign exchange market turnover on Monday, the Nigerian Naira did not strengthen against the US Dollar. Data from FMDQ revealed that the country’s daily FX market turnover rose to $123.25 million on Monday from $84.02 million on Friday. Despite the increased supply of FX, the …

THE shrinking value of the Nigerian naira and currencies of most developing economies are driving up food and fuel prices in ways that could deepen the food and energy crises that many of them already face, according to the World Bank’s latest Commodity Markets Outlook report. In US dollar terms, …