The Nigerian currency, the naira, gained about N37 in the last 10 days, making dollar hoarding risky, as the Central Bank of Nigeria (CBN) continues to intervene.
Economy
Most viewed
Popular
-
Naira rally narrows FX gap to just N10 as CBN targets $1bn monthly remittances
-
UK economy stalls in July
-
FG orders immediate release of ₦250bn loan to farmers, targets food security
-
Naira hits highest level in months at N1,497 per dollar, black market rates appreciate
-
New exchange rate: CBN crashes dollar as naira appreciates to N1,506 in official window
Economy Latest News
OPEC+ maintains output reduction to boost oil prices
An OPEC+ panel recommended Wednesday that the oil cartel keep its current output reduction strategy unchanged after heavyweights Saudi Arabia and Russia vowed to maintain their cuts to prop up prices. Oil prices recovered in recent months and approached $100 per barrel last week as top producers Saudi Arabia and Russia have taken millions of barrels off the market.
EU formally starts probe into Chinese electric cars subsidies
The European Union said Wednesday that it had "sufficient evidence" of illegal Chinese electric car subsidies as it officially launched an inquiry that has enraged Beijing.
UK supermarket Tesco says profits surge as costs drop
Britain's largest retailer Tesco on Wednesday said half-year net profit soared on slashed costs, and forecast a further slowdown in food price inflation. Tesco said food price inflation fell across the first half -- and it expects this to continue for the rest of the year.
'Zero income' after storms ravage famed Greek apple harvest
Engine revving, Greek apple farmer Thymios Economou strains to drive a pickup truck through a rock-strewn dirt road and reach his flood-stricken orchard. "There used to be an apple orchard there.
Ukraine's frontline steel industry fights to 'survive'
Wearing a heat-protective coat with hood and a visor, Sergiy peered down into a glowing orange stream of searing liquid metal at Ukraine's Zaporizhstal steel plant. Zaporizhstal is part of the Metinvest steel and mining group controlled by Rinat Akhmetov, reportedly Ukraine's richest man.
Asian markets fall on rate fears as bond yields rise
Asian markets fell across the board Wednesday following Wall Street's lead after robust US employment data and rising Treasury yields exacerbated fears that interest rates will be higher for longer. Treasury bond yields are seen as a proxy for US interest rates and are closely watched.
US jobseekers face tougher search despite robust market
For the past year, Taylor Simpson has been searching for a stable job while working part-time, but she is struggling to find a position she likes even though companies are hiring. As hiring in the United States cools, jobseekers like 24-year-old Simpson have a harder time finding suitable work, even as data suggests the labor market remains strong.
United orders 110 new planes from Boeing, Airbus
United Airlines announced Tuesday it had ordered a total of 110 new planes from Boeing and Airbus, and secured options to purchase 90 more, in a major deal signaling confidence in the aviation sector. United also announced it had secured new options for 50 more Boeing 787s and purchase rights for an additional 40 A321neos from Airbus "at the end of the decade."
Top US court weighs major curbs to power of federal regulators
The US Supreme Court on Tuesday began hearing a series of cases that could result in a generational contraction in the power of federal agencies to regulate businesses and corporate fraud.
Economy
Load more