exchange rate

Amid assurances from President Bola Ahmed Tinubu that Nigeria is open for business, a persistent forex crisis continues to cast a shadow on the country's financial stability and international reputation. Despite claims that barriers to investment have been dismantled, the ongoing struggle with...

The Nigerian Naira showcased a robust performance, closing at N750.14 against the dollar at the official market on November 20, 2023. This 5.55% appreciation brought relief to financial analysts, attributing the upswing to the Central Bank of Nigeria's (CBN) strategic move to clear a backlog of...

The Naira experienced a staggering fall, reaching a historic low of N1,105 against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Central Bank of Nigeria's (CBN) approved official market. The day began with the Naira opening at N830, marking a rapid depreciation...

In a remarkable turn of events, the Nigerian naira continued its impressive rebound against the US dollar on Friday, surging to an exchange rate of ₦950/$ in the parallel market. This marks a substantial gain of ₦170 or a 15.18% appreciation of the local currency compared to the ₦1,120/$ it...

In a surprising turn of events, the Nigerian naira witnessed a remarkable appreciation against the U.S. dollar in the parallel section of the foreign exchange market. On Friday, the local currency soared by N145, marking a substantial increase of 12.24 percent, reaching the impressive exchange...

Industries across the nation are grappling with immense challenges as the Nigerian naira continues its sharp decline against the U.S. dollar. The unofficial exchange rate in Lagos and Abuja recently reached between N1,150 and N1,155 per dollar. This alarming trend is causing significant distress...

Nigeria is grappling with a deepening economic crisis as the Naira plunged to an alarming exchange rate of 1,025 Naira to the US dollar in the parallel market. This decline, which continues to sow panic and instability, has ignited concerns among small-scale enterprises, manufacturers, and...