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Browsing: exchange rate Nigeria
- The sudden collapse of the Nigerian Naira versus the US dollar has caused widespread shock and alarm in the banking and investment industries..
- Continued loss in value of the Naira poses huge repercussions for the entire 15-member ECOWAS bloc, not just Nigeria.
- Many ECOWAS countries rely heavily on trade with Nigeria. When the value of the naira drops, the cost of importing products into Nigeria rises, and less money is available to spend on goods from other nations.
The sudden collapse of the Nigerian Naira versus the US dollar has caused widespread shock and alarm in the banking and investment industries. The effects of the currency exchange rate dropping to an all-time low on Nigeria’s economy and regional commerce are significant.
Current exchange rate of the Naira to the Dollar
The FMDQ, where foreign currency is legally sold through the NAFEM, reported an alarmingly low exchange rate of N999 for …
