Nigeria and China have renewed their currency swap agreement worth 15 billion yuan ($2 billion), a move expected to strengthen cooperation and promote bilateral trade and investment between both countries. In a statement released on Friday, the People’s Bank of China (PBOC) confirmed that the arrangement will remain in place for another three years, with … Read more
Mumbai: The rupee consolidated in a narrow range and settled 1 paisa lower at 83.55 against the US dollar on Friday, June 14, as positive domestic markets and a decline in crude oil prices supported the rupee, while strong US Dollar and FII outflows capped sharp gains. Forex traders said the rupee was seen as … Read more
Despite increased budgetary allocation (in naira terms) for Nigeria’s foreign missions, the depreciation of the naira means that Nigerian missions will receive less funding this year than they did in three of the last four years, a PREMIUM TIMES analysis has shown. While the budgetary allocation for Nigeria’s foreign missions is in naira, expenses are … Read more
