The exchange rate between the Nigerian Naira and the US Dollar is a critical economic indicator that reflects the health of Nigeria’s economy. Predicting the Read moreTinubunomics: Naira beats odds to make 7.2% gains against the US Dollar at official market April 13, 2024 Obinna Ejianya 0...
GDP (official exchange rate): This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at official exchange rates (OER) is the home-currency-denominated annual GDP figure divided by the bilateral av...
GDP (official exchange rate): $77.33 billion (2005 est.) GDP - real growth rate: 6.9% (2005 est.) GDP - per capita (PPP): $1,400 (2005 est.) GDP - composition by sector: agriculture: 26.9% industry: 48.7% services: 24.4% (2005 est.) Labor force: 57.21 million (2005 ...
"Current macroeconomic fundamentals cannot support the current exchange rate regime. This underscores the inevitability of an exchange rate adjustment. We actually do not have a choice in the circumstances." Musa Aminu Gwadabe, president, Association of Bureaux De Change Operators of Ni...
CurrencyOfficial Rate USD to NGN1642.65 US Dollar to Nigerian Naira GBP to NGN2130.64 British Pound to Nigerian Naira EUR to NGN1776.04 Euro to Nigerian Naira USD to AED3.67 US Dollar to Emirati Dirham USD to CNY7.13 US Dollar to Chinese Yuan Renminbi ...
It is recommended that you exchange all of your naira at the airport before leaving Nigeria. The rate is meaningless since the naira isn’t worth anything outside of Nigeria. Currency collectors may be interested in Naira bills/coins, but they will be little more than colorful mementos of yo...
The Interbank rates shows the current CBN exchange rates and official interbank rates. There are about 6 Forex windows maintained by the CBN each with a different exchange rate. The windows are:Official Interbank Wholesale window NAFEX Window (NAFEX - Nigerian Autonomous Foreign Exchange window) ...
In response, CBN spokesperson Sidi Hakama emphasized that the bank’s measures aim to stabilize the foreign exchange market and strengthen the Naira. The ongoing volatility in the currency underscores the broader economic challenges in Nigeria and raises questions about the effecti...
This is coming after the official I&E window recorded a closing exchange rate of N762.63 per US dollar compared to the N792.50/$1 average sold at the parallel market on Thursday. Daily Sun investigations revealed that parallel market traders in Ajah, Marina and Festac quoted the rate at N790...
Negative changes in the price of oil have a positive insignificant and negative significant impact on official exchange rate in the short run and long run, respectively. The error correction result verified that the variables (trade openness, current account, oil price and consumer price index) ...