By Sodiq Adelakun Naira on Tuesday exchanged with the dollar at an average rate of N825 as demand intensifies at the parallel market, also known as black market. This is the same rate it closed on Monday at the same…
The Naira on Monday appreciated against the dollar, exchanging at N795.28 at the investors and exporters window. The Naira increased by 1.07 per cent when compared with N803.90 which it exchanged to the dollar on July 14. The open indicative…
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…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) drew down Nigeria’s foreign reserves and expended $17.81billion to defend the nation’s weak currency, at the foreign exchange (forex) markets in 2022. According to the apex bank in its Annual CBN…
By Sodiq Adelakun The foreign exchange (FX) market opened on Wednesday with naira depreciating by 0.38 per cent against the dollar at the parallel market. The dollar was trading at N778 on Wednesday morning, the same rate it closed at…
By Sodiq Adelakun The exchange rate between the dollar and naira closed at N741.5/$1 at the official investor and exporter window on Monday, July 3rd, 2023. The forex market opened at N760.39/$1 and sold for an intra-day high of N792/$1…
The naira has appreciated by 0.68 per cent against the United States dollar on the Investor & Exporter forex window. The local currency closed at N763/$ on Tuesday, compared to N768.17/$ at the close of trading on Monday. There was…
The exchange rate between the naira and dollar on the official Investor & Exporter Window closed at N763/$1 ahead of the Sallah Break. According to data from the FMDQ Securities Exchange, the naira opened at N760.5 per dollar at the…
The Association of Capital Market Academics of Nigeria (ACMAN) suggests that the Central Bank of Nigeria (CBN) should raise the Monetary Policy Rate (MPR) above the current 18.5 per cent to support the Naira float and attract foreign capital inflows.…
The Central Bank of Nigeria (CBN) and the Nigeria Customs Service have taken the ongoing foreign exchange reforms to the maritime sector with a 40 per cent increase in the exchange rate used for calculating import duty. The NCS on…
