x

Naira weakens further as dominant currencies alter pricing decisions

The International Monetary Fund has expressed concerns that currency movements pose great challenges to developing countries’ domestic economy, especially trade.

The concerns is to the challenges of the Nigerian economy, where trade invoices are benchmarked against the dollar, just as the Naira continues to lose value at the parallel market.

At N472 to $1, the IMF noted that the weakening of other countries’ currencies vis-à-vis the US dollar leads to higher domestic currency prices of their imports, including from countries other than the U.S.

Hot this week

Flood submerges Five communities in Ibaji, Kogi state

flood prone communities to relocate - KOSEMA By Noah Ocheni,...

China to establish Africa’s first local insulin production facility in Nigeria

Chinese Ambassador to Nigeria, Yu Dunhai, says Chinese companies...

Gov. Diri Assures NYSC Members of Safety, Urges Them to Harness Bayelsa’s Opportunities

By Amgbare Ekaunkumo, Yenagoa Bayelsa State Governor Douye Diri has...

CSOs fault DAPPMAN’s ₦75 per litre coastal freight cost demand

Coalition of Civil Society Organisations in Nigeria (COCSON) and...

Nigeria @65: Claims of Progress Are Deceptive – Activist Ukegbu

A social rights activist, Comrade Okechukwu Keshi Ukegbu, has...

Sixty-Five Cheers to a Great Nation in Need of True Reflections

The Pan Niger Delta Forum (PANDEF), on behalf of...

Nigeria @65: United, prosperous nation possible under Tinubu administration – Amagbein

By Our Correspondent Better, united and prosperous Nigeria is possible...

NNPC Foundation Boosts Economy with Agricultural Intervention, Say Kano Farmers

By Jabiru Hassan Farmers in Kano State have commended the...

Kogi Boat Mishap: Death Toll Rises to 36, 40 Rescued

By Noah Ocheni, Lokoja The National Inland Waterways Authority (NIWA)...

Nigeria @65: Claims of Progress Are Deceptive – Activist Ukegbu

A social rights activist, Comrade Okechukwu Keshi Ukegbu, has...

Nigeria @65: Northern CAN Urges Hope, Calls on Leaders to Strengthen Nation-Building

By Achadu Gabriel, Kaduna The Christian Association of Nigeria (CAN),...

Group Presses Nasarawa Assembly for Speedy Passage of Climate Change Bill

y Leo Zwanke, Lafia The Nasarawa State Network on Environment...

Related Articles

Popular Categories

spot_imgspot_img