down anytime soon? These have put a yahoo currency converter gbp to euro strain on Nigerias foreign reserves, and have also led to a continuous scramble for the dollar to fuel these imports. Have agreed a text on how to avoid a hard border on the island of Ireland suggesting the final and most contentious stumbling block to a Brexit deal has been reached. For some time now, there has been a huge disparity between the CBN rates and the parallel market (black market) prices of the dollar.
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However, the current Dollar rate to Naira stands at N360/ at the Interbank/official rate and N363/ at the parallel market or black market rate as popularly called in Nigeria. The Dollar to Naira bank rate today is a sensitive issue mainly because Nigeria is a consumer based economy. Concerns over resignations in Prime Minister Mays cabinet show concerns. GBP live today 12 November, 2018 Reports of a "GBP hedging frenzy" confirm markets are growing more nervous of the prospects of a 'no deal' Brexit transpiring. Further information on the performance of the Naira against major currency pairs can be found. This, coupled with lack of government policies that encourage local production and stop importation of goods that can be locally made, is one of the factors responsible for the downfall of the naira. Now, the big question is, why is Nigerias foreign reserve so badly depleted. But unfortunately for Nigeria, there was very little left as foreign reserve. GBP live today 12 November, 2018 Following a poor start to the new week mladen forex tsd the British Pound is seen consolidating against the Euro, giving rise to hopes that a full-blown fire-sale of the currency has been avoided.
Also, Nigeria is a consumer economy that imports virtually everything citizens use. The negative development, which came of the heels of the discovery of shale oil by the US, has also dealt huge blows to the economy of many other oil exporting countries. This act is known as floating the naira, and according to the CBN, it was targeted at reducing the pressure on the Naira which it called the automatic adjustment mechanism. GBP live today 13 November, 2018 It is reported.U. Some GBP pairs down over 400 pips. There is little manufacturing going on in the country, and as a result, this cannot meet up with local demand. It is in the light of these that this article focuses on the value of one Dollar to Naira exchange rate today.
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