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The spot exchange rate is the current exchange rate, while the forward exchange rate is an exchange rate that is quoted and traded today but for delivery and payment on a specific future date. In the retail currency exchange market, different buying and selling rates will be quoted by money dealers.
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2] Exchange rate arrangement (Number of countries) Exchange rate anchor Monetary aggregate target (25) Inflation Targeting framework (45) Others (43) US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador ...
When the naira was introduced, it had an official exchange rate of US$1.52 for ₦1, though a currency black market existed in which the naira traded at a discount relative to the official exchange rate. The official exchange rate set by the Central Bank of Nigeria: naira to U.S. dollar is approximately ₦767.54 per 1 US dollar.
In 2005, Nigeria posted a US$26 billion trade surplus, corresponding to almost 20% of gross domestic product. In 2005, Nigeria achieved a positive current account balance of US$9.6 billion. The Nigerian currency is the naira (NGN). As of June 2006, the exchange rate was about US$1=NGN128.4. As of June 2019, it stands at US$1 =NGN357.
In April 2014, Polypipe was the subject of an initial public offering on the London Stock Exchange. [14] Then in November 2014, Polypipe acquired the Ferrob Ventilation business. [ 15 ] In February 2015, Polypipe acquired Surestop, a business producing an alternative product to the brass stopcock, [ 16 ] and in August 2015 Polypipe acquired ...
(The Center Square) – The Georgia Court of Appeals removed Fulton County District Attorney Fani Willis from prosecuting the election interference case against Donald J. Trump and others. The ...
John Tonje scored 25 of his 33 points in the second half, and No. 19 Wisconsin came back to beat Pittsburgh 81-75 in the championship of the Greenbrier Tip-Off on Sunday night. John Blackwell ...
In July 2022, Dangote - Nigeria's richest resident - had to borrow 187 billion naira (about 442 million USD) at 12.75% resp. 13.5% p.a. to complete the refinery. [8] At the same time, all of the four refineries of the state-owned oil company NNPC (in Kaduna , Port Harcourt [ 9 ] and Warri ) are idle and expect to process crude oil again in 2023 ...