The naira on Monday hit three-month-low of N1,530 per dollar on the parallel market, also known as the black market, following renewed pressure on demand for the greenback by the end users. This represents 0.65 percent (N10) lost compared to…
Naira trades to dollar at 1,515/$ in parallel marketThe naira on Monday extended depreciation against the dollar falling to 1,515 on the parallel market, popularly called black market. This represents 2.97 percent (N45/$1) depreciation against the US dollar when compared…
The naira, Nigeria’s currency, on Wednesday, strengthened to N1,250 to a dollar, gaining 0.8 percent (N10) over N1,260 closed on Tuesday at the parallel market, popularly called the black market. Compared to the level on February 20, 2024, naira has…
Following the Easter holiday break, the foreign exchange (FX) market reopened on Tuesday with a notable surge in the value of the Naira against the US dollar. Bureau De Change (BDC) operators reported buying the dollar at N1,220 and selling…
Contrary to circulating reports on social media platform X (formerly Twitter), Bureau De Change (BDC) operators have vehemently denied claims of the dollar selling at N1,000 in the parallel market in Abuja. The viral post on X (formerly Twitter) alleged…
By Sodiq Adelakun The US Dollar experienced a significant crash on Wednesday, dropping by 6.45 percent against the Nigerian Naira on the parallel market, commonly known as the black market. This sudden decline came shortly after the Central Bank of…
By Sodiq Adelakun Persistent demand pressures have caused the parallel market exchange rate to hit a record low of N2,040 per Great Britain Pound (GBP), marking a significant decline of 5.39 percent or N110 compared to the previous day’s rate…
…Plummets by 80% to become Africa’s worst-performing currency By Sodiq Adelakun On the parallel market, the naira was trading at 1,245 per dollar in early Wednesday trading, while the one-month non-deliverable forwards market had it listed at 1,002.50 naira on…
By Sodiq Adelakun The Nigerian foreign exchange (FX) market opened on Monday with the naira/dollar exchange rate quoting at N1,020 This comes after the naira strengthened to 970 per dollar on the black market over the weekend following some positive…
By Sodiq Adelakun The naira experienced a further decline on Wednesday, with its value against the dollar dropping to N1,300 compared to the previous day’s rate of N1,250 in the parallel market. Meanwhile, the British pound was being traded at…
