Definition of naira
the basic monetary unit of Nigeria — see money table
Recent Examples of naira from the Web
The naira has stabilized at about 380 per dollar for portfolio investors and on the black market, while the interbank rate is about 315.
In 2009, a credit crunch prompted the government to create the Asset Management Corp. of Nigeria, or Amcon, which bought about 14,000 non-performing loans from 10 banks at a cost of 3.9 trillion naira ($12 billion).
Gunmen had been demanding a ransom of 60 million naira (about $200,000) for the release of Professor Peter Breunig and his assistant, Johannes Behringer.
Nigeria’s currency, the naira, collapsed to record lows this month after Nigeria’s central bank placed restrictions on the sale of American dollars to protect its shrinking foreign reserves.
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Origin and Etymology of naira
alteration of Nigeria
First Known Use: 1972See Words from the same year
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