By Sodiq Adelakun The Nigerian naira experienced a boost in the official market, gaining 5.26 percent against the dollar, which was quoted at N750.14 compared to N791.75 on Friday. This was attributed to a 12.02 percent increase in dollar supply…
By Sodiq Adelakun The foreign exchange market (FX) kicked off the week with the Nigerian naira losing ground against the US dollar on the black market, also known as the parallel market. This depreciation comes after the naira had appreciated…
Naira put on a dazzling performance on Friday, leaving traders in awe as it appreciated by a remarkable 2.6 percent. With a closing rate of N755.27/$1, it outshone its previous session’s rate of N775.31/$1 on Thursday. Throughout the trading day,…
By Sodiq Adelakun The Nigerian naira continued its downward spiral, inching closer to the alarming 1000-per-dollar mark in street trading. The central bank’s reluctance to supply dollars to the market has only exacerbated the panic. Traders in Abuja reported the…
…Transaction volume soars by 138.57% By Sodiq Adelakun Naira experienced a remarkable gain of 4.79 percent against the US dollar on Wednesday at the Investors and Exporters (I&E) forex window. This positive development was attributed to increased liquidity in the…
By Sodiq Adelakun One dollar is currently trading at an average rate of N792.50 at the parallel market, also known as the black market. In some parts of Lagos like Festac, dollars are being quoted at N790 and N795 in…
The Naira appreciated against the dollar on Wednesday, exchanging N461.24 at the investors’ and exporters’ window. The rate represented an increase of 0.11 per cent when compared to the N461.75 for which it exchanged to the dollar on Tuesday. The…
The naira on Friday exchanged at 445.33 to the dollar at the Investors and Exporters window, an appreciation of 0.11 per cent, compared with the 445.83 it exchanged on Thursday. The open indicative rate closed at N444.75 to the dollar…
The central parity rate of the Chinese currency renminbi, or the Yuan, strengthened 30 pips to 7.1638 against the dollar on Wednesday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the Yuan is allowed…
The exchange rate between the Naira and the US dollar at the black market fell significantly by 1.75 per cent to trade at N755/$1 on Friday, 21st October 2022, when compared to N742/$1 recorded in the previous trading session. This…
