The Naira posted significant losses against the haven currency at the last reading session of the week as investors increased their buying pressure on the greenback. The Naira lost ground against the dollar in the black market, falling from N1,485…
Amidst Nigeria’s struggles to stabilise its exchange rate, the Naira has failed to make the list of Representative Exchange Rates for Selected Currencies for June 2024, published by the International Monetary Fund. The list, which includes currencies from around the…
Nigeria’s foreign exchange turnover transaction dropped by 42.92 percent amid the continued fluctuations of the Naira against the dollar. FMDQ data on Monday showed that FX turnover crashed to $121.87 million from $213.52 million last Friday. The reduction underscores the…
The naira ended the week on a negative note, depreciating further against the dollar at the official foreign exchange market. FMDQ data showed that the naira depreciated to N1485.99 per dollar compared to N 1484.75 traded on Thursday. This represents a marginal…
The naira has experienced consecutive double-digit appreciation on the official market, and sources say that the Central Bank of Nigeria (CBN) has been selling more dollars on the official market in anticipation of a $1.3 billion non-deliverable forward (NDF) maturing…
The naira held its ground on the unofficial market, appreciating against the dollar on the parallel market as the dollar index posted some losses amid profit-taking. The value of the naira was N1,500 on Friday, compared to N1,510/$1 on Thursday…
The naira on Wednesday weakened against the dollar, losing 1.47 percent at the parallel market also, known as the black market. The local currency was quoted at N1,500 per dollar on Wednesday, a day after the Central Bank of Nigeria…
The Naira appreciated against the dollar at the foreign exchange market barely 24 hours after depreciation. FMDQ data showed that the N1497.33 appreciated against the dollar on Friday This represents an N33.66 gain against the dollar compared to N1497.33 traded…
The exchange rate between the naira and dollar in the official NAFEM Window has depreciated to N1,533.99/$1 on Thursday, May 16, 2024. This represents a massive 4.89 percent drop in one day when compared to the N1459.02/$1 recorded a day…
The naira on Tuesday continued its free fall across the foreign exchange (FX) market, depreciating to a new low of 1,530 per dollar on the parallel market, also known as the black market. This represents 0.98 percent (N15/$1) depreciation compared…
