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Nigerian Naira appreciated in the parallel market to N1,650 per dollar on Tuesday, December 31, after close of trading compared to N1,655 on Monday. Also, the Naira appreciated to N1,535 per dollar in the official foreign exchange market. New data published by the Central Bank of Nigeria (CBN), showed that the exchange rate for the […]
Continue ReadingIndications are showing that the local currency is set to fully reverse its gains as the depreciation trend enters a new height, hitting N1,740 to $1 in the parallel market at the close of trading last weekend. But, the Naira remained stable with minor appreciation in the Nigerian Autonomous Foreign Exchange Market (NAFEM), as dealers […]
Continue ReadingNigeria’s currency, the Naira, appreciated to N1,680 per dollar in the parallel market on Monday compared to N1,690 per dollar last weekend. At the same time, the Naira appreciated to N1,552.92 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,552.92 […]
Continue ReadingAs Nigerian economy continues to go bad, severely hurting the Nigerian people, the country’s currency, the Naira dipped to N1,600 against the dollar on Thursday. According to one platform for currency monitoring, the Naira plunged to N1,600 per $1 despite efforts by the Central Bank of Nigeria (CBN) to salvage the free fall of the […]
Continue ReadingNigeria’s Naira, on Friday, depreciated to N1,260 per dollar in the parallel market, down from N1,240 per dollar on Thursday. In the same vein, the Naira depreciated to N890.54 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data from Financial Markets Dealers Quotation (FMDQ) showed that the indicative exchange rate for NAFEM rose to […]
Continue ReadingExchange rate between the naira and dollar opened the week at N1,200 per $1 on P2P platforms on Monday, Oct. 23, 2023. Effect of this is that the naira is 3.41 percent weaker than on Friday, Oct. 20, when it closed at N1,170 on the same market. This week, on the black market where the […]
Continue ReadingFears of a further devaluation of the nation’s currency, the Naira, heightening on Monday as the Dollar exchanged at N600 at the parallel market. The rate at the Importers and Exporters Window was, however, N415.75 on Monday, widening the exchange rate spread to N184.25. Punch reports that, at Zone 4 in Abuja, which is the […]
Continue ReadingNigeria’s currency, the Naira on Wednesday fell to N493 per dollar at the parallel market, shading N6 from the N487/$ it exchanged on Tuesday, May 25, 2021. When compared to the N486/$1 that was recorded on Monday, the local unit had dropped N1 The pressure on Nigeria’s currency is attributed to black market speculators who […]
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