YEMEN FIGHTING PUSHES NEARLY 3,000 TO DJIBOUTI IN LESS THAN A WEEK- UN. (PHOTO).

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Yemen fighting pushes nearly 3,000 to Djibouti in less than a week: UN    Nearly 3,000 people have fled Yemen for Djibouti in less than a week as escalating violence drives growing displacement within the country and across its borders, the UN refugee agency said Friday. “Refugees continue to arrive by boat through Obock, Khor Angar, Moulhoule and Godoria after difficult journeys in small vessels,” UNHCR representative in Djibouti Sandrine Desamours told reporters in Geneva, Anadolu Agency reported. More than half of those crossing the Bab el-Mandeb Strait are women and children, while some families have been displaced for a second time after previously fleeing Yemen during the 2015 crisis and later returning. UNHCR is preparing for at least 10,000 new arrivals but warned that capacity is rapidly diminishing. Markazi refugee village, designed for 5,000 people, was already hosting more than 2,700 Yemenis and 1,500 Eritreans. More than 100,000 people have also been displaced ins...
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NIGERIAN NAIRA FALLS TO RECORD LOW ON OFFICIAL MARKET.(PHOTO).

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Nigerian naira falls to record low on official market

(Reuters) - Nigeria's naira dropped to a record low against the dollar on the official market on Tuesday in thin trading, swinging widely to levels seen on the unofficial parallel market, where the currency trades freely.

The naira fell as low as 1,248 to the dollar, during mid-day trading, LSEG data showed after it opened at 927 naira on Tuesday. It later recovered to 845 naira.

Central Bank of Nigeria Governor Olayemi Cardoso has said he would allow market forces to determine exchange rates while setting clear, transparent and harmonised rules governing market operations.

The comments and chronic dollar shortages on the official market have prompted the naira's official exchange rate to drift towards the parallel market level.

The currency sold at around 1,225 naira on the parallel market on Tuesday, while it was quoted at 1,002.50 naira on the one month non-deliverable forwards market .

 

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