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…
The Naira on Friday closed on a negative note as it exchanged for N770.17 against the dollar at the investors and exporters window. The naira depreciated by 0.66 per cent when compared with N765.13 for which it exchanged for the…
The value of Nigeria’s export may rise to at least N41.99 trillion per year following the Central Bank of Nigeria (CBN) float of the naira. The apex bank had last Wednesday directed Deposit Money Banks to remove the rate cap…
By Sodiq Adelakun In a bid to maintain equivalent of the foreign currencies, many Deposit Money Banks (DMBs) have been asked to increase funds in Naira accounts for FX allocation through Form A and Form Q. This is coming after…
By Sodiq Adelakun Following demand pressure against shrinking supply, the Naira on Monday crashed by 16 per cent to N770.38 per dollar in the Investors and Exporters (I&E) window following a surge in demand for dollars worsened by acute supply shortage. According…
