dollar Archives - The Pacesetter Frontier Magazine

Naira decline persists: Nigerian Currency hovers around N500 to dollar

July 2, 2021 by Editor Leave a Comment

The Naira has failed to appreciate as the United States dollar sells above N500 with traders and experts calling on the federal government to take urgent actions in saving the economy from total collapse. As the prices of crude oil keep rising in the international market, there were expectations that the naira will … [Read more…]

Dollar Deposits exceed 30% threshold approved by IMF

April 23, 2021 by Editor Leave a Comment

Dollar deposit by Nigerians in banks has exceeded the 30 per cent threshold approved by International Monetary Fund (IMF), a Central Bank of Nigeria (CBN) report has said. The report by CBN economists said Nigerians have been accumulating foreign currencies to protect their wealth from naira volatility and surging inflation. “Higher real-exchange … [Read more…]