foreign exchange market
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![Today's Naira Rate [05-12-2024]: Naira Appreciates to N1,695/$ as Demand Drops Ahead of Holidays](/data/attachments/211/211009-eab1fb3d676e2af5c5c71e025958d3db.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate [05-12-2024]: Naira Appreciates to N1,695/$ as Demand Drops Ahead of Holidays
The Naira appreciates to N1,695 per dollar in the parallel market, showing a positive trend as demand decreases with the festive season approaching. It remains stable at N1,672.69 per dollar in NAFEM. Dollar turnover rose, and experts predict Naira stability as the year ends, with a narrowed...- Nigeria News
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- 2 min read
- foreign exchange market nafem rate naira appreciation nigerian currency exchange parallel market
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Nigeria Naira Plummets: Now Third Worst Currency as Liquidity Issues Persist
Nigeria's Naira has fallen to the world's third worst-performing currency, losing about 70% of its value against the dollar. A recent 4.3% drop to 1,670.65 Naira per dollar highlights ongoing liquidity issues in the foreign exchange market, exacerbated by declining crude oil production. The...- Nigeria News
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- 2 min read
- crude oil production currency devaluation foreign exchange market naira nigeria economy
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![Today's Naira Rate[26-10-2024]: Naira Falls to N1,740/$ in Parallel Market as Official Rates Show Mixed Signals](/data/attachments/209/209550-8e774d4b46f10d5320d33103cc295370.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate[26-10-2024]: Naira Falls to N1,740/$ in Parallel Market as Official Rates Show Mixed Signals
The Naira depreciated to N1,740 per dollar in the parallel market while appreciating to N1,601.2 in the Nigerian Autonomous Foreign Exchange Market. Trading volume in the official market increased by 23%, widening the gap between parallel and official rates to N140 per dollar, signaling ongoing...- Nigeria News
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- 2 min read
- cbn currency exchange rate foreign exchange market naira depreciation
- Category: Business
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![Today's Naira Rate [22-10-2024]: Naira Climbs to ₦1,715 in Parallel Market Amid Rising Dollar Trading Volume](/data/attachments/209/209423-060f268af27363b5a828adb57ad43123.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate [22-10-2024]: Naira Climbs to ₦1,715 in Parallel Market Amid Rising Dollar Trading Volume
The Naira appreciated in the parallel market, trading at ₦1,715 per dollar on October 21, while depreciating in the Nigerian Autonomous Foreign Exchange Market (NAFEM) to ₦1,603.16. Central Bank Governor Olayemi Cardoso highlighted the potential benefits of a weaker Naira for boosting exports...- Nigeria News
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- 1 min read
- cbn governor dollar exchange rate foreign exchange market naira parallel market
- Category: Business
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![Today's Naira Rate[11-09-2024]: Naira Strengthens to N1,555.75 as FX Market Sees Turnaround](/data/attachments/208/208188-d65d1a8ea84f6b7385c21520f231e9b8.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[11-09-2024]: Naira Strengthens to N1,555.75 as FX Market Sees Turnaround
The Naira gained N81 against the dollar, earning N1,555.75 from N1,637.59 within 24 hours. Bureau de Change operators confirmed a similar improvement, with rates improving to N1,650 per dollar. Foreign exchange transaction turnover also increased, reaching $221.24 million on Wednesday, up from...- Nigeria News
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- 1 min read
- foreign exchange market naira to dollar exchange naira vs dollar nigerian currency appreciation
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![Today's Naira Rate[04-09-2024]: Rising Inflation Looms as Naira Trades at Six-Month Low of N1,625.88/$1](/data/attachments/207/207981-14653f6b81669f690c028af5c37d80bb.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[04-09-2024]: Rising Inflation Looms as Naira Trades at Six-Month Low of N1,625.88/$1
Nigeria's exchange rate fell to a six-month low of N1,625.88 per dollar on August 4, 2024, indicating ongoing economic challenges. The naira's depreciation coincided with rising petrol prices, contributing to inflation and tightening liquidity in the foreign exchange market, which saw a...- Nigeria News
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- 2 min read
- currency depreciation nigeria foreign exchange market inflation pressure nigeria naira exchange rate nigeria economic challenges
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![Today's Naira Rate[31-08-2024]: Naira Falls to N1,645 Against Dollar Despite CBN Interventions](/data/attachments/207/207791-31fa721aaf6302a0c356371f7a19343c.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[31-08-2024]: Naira Falls to N1,645 Against Dollar Despite CBN Interventions
The Naira depreciated significantly, losing N30 in the parallel market and N28.48 in the official market last week. It fell to N1,645 against the dollar amid the Central Bank of Nigeria's Retail Dutch Auction System, despite an increase in foreign exchange transaction turnover. In the past...- Nigeria News
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- 1 min read
- central bank of nigeria foreign exchange market naira depreciation naira to dollar rate retail dutch auction system
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![Today's Naira Rate[26-08-2024]: Naira Drops to 1,596.60/$ as Dollar Supply Tightens in FX Market](/data/attachments/207/207648-e780f59853b1938ae71a997d15d65bdf.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[26-08-2024]: Naira Drops to 1,596.60/$ as Dollar Supply Tightens in FX Market
The naira closed at N1,596.60 per dollar as dollar liquidity decreased, marking a 1.66% drop from Friday's rate. Daily FX market turnover fell 14.80% to $102.93 million, while the parallel market rate was quoted at N1,610. Analysts suggest sustained high interest rates amid ongoing inflation...- Nigeria News
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- 2 min read
- dollar liquidity exchange rate foreign exchange market
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![Today's Naira Rate[15-08-2024]: Naira Gains 1.38% to ₦1,564.48/$ Amid Surge in Dollar Supply](/data/attachments/207/207258-f03ffe954e3016d0e0568883b0dfca20.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[15-08-2024]: Naira Gains 1.38% to ₦1,564.48/$ Amid Surge in Dollar Supply
The Nigerian Naira appreciated to ₦1,564.48 per dollar on Thursday, a 1.38% gain driven by increased dollar supply. Trading volumes surged by 61.54%, reflecting heightened market activity. The Central Bank of Nigeria's recent measures, including the Retail Dutch Auction System, aim to stabilize...- Nigeria News
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- 2 min read
- dollar supply increase foreign exchange market naira appreciation nigerian currency
- Category: Business
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Nigeria Naira Hits N1,620/$ in Parallel Market as Depreciation Continues
The naira fell to N1,620 against the dollar in the parallel market on July 18, marking its fifth straight day of depreciation. Official rates showed a slight recovery to N1,566.82. The Central Bank of Nigeria's interventions and calls for stabilization highlight ongoing concerns about currency...- Nigeria News
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- 2 min read
- central bank of nigeria foreign exchange market naira depreciation naira exchange rate nigeria currency parallel market
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Nigeria Naira Plummets Over 40% in H1 2024 Amidst Central Bank Reforms
The Nigerian Naira depreciated by over 40% in early 2024, despite policy reforms and increased external reserves, reaching N1505.30 per dollar. The currency's instability continues to challenge the economy. In the first half of 2024, the Nigerian Naira experienced a depreciation of over 40...- Nigeria News
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- 2 min read
- central bank of nigeria policies foreign exchange market naira depreciation 2024 naira to dollar rate nigerian naira exchange rate
- Category: Business
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![Today's Naira Rate[26-06-2014]: Naira Weakens Further in Official Market, Hits N1,507.83 per Dollar](/data/attachments/205/205493-6e202405f2f497d63440ce71bc64dc98.jpg?hash=biAkBfL0l9)
Nigeria Today's Naira Rate[26-06-2014]: Naira Weakens Further in Official Market, Hits N1,507.83 per Dollar
The naira weakened to N1,507.83 per dollar in the official market. Central Bank Governor Yemi Cardoso expressed optimism about managing currency volatility, citing recent stability and significant foreign exchange inflows. The Nigerian naira weakened to N1,507.83 per dollar at the official...- Nigeria News
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- central bank of nigeria foreign exchange market naira depreciation naira to dollar exchange rate nigerian currency yemi cardoso
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![Today's Naira Rate [29-05-2024]:Nigerian Naira Reverses Course, Dives to N1,329.65/$1 Despite Recent Surge](/data/attachments/204/204434-6e202405f2f497d63440ce71bc64dc98.jpg?hash=biAkBfL0l9)
Nigeria Today's Naira Rate [29-05-2024]:Nigerian Naira Reverses Course, Dives to N1,329.65/$1 Despite Recent Surge
The Nigerian Naira faced a sharp decline, falling to N1,329.65 against the US Dollar despite recent gains and CBN interventions. The abrupt reversal raises concerns about currency stability and prompts questions about the effectiveness of central bank measures. Market observers remain vigilant...- Nigeria News
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- 1 min read
- central bank of nigeria currency depreciation exchange rate foreign exchange market nigerian naira
- Category: Business
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![Today's Naira Rate [28-05-2024]:Naira Hits One-Month High at N1,173.88 as CBN Sells $300 Million to Banks](/data/attachments/204/204393-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [28-05-2024]:Naira Hits One-Month High at N1,173.88 as CBN Sells $300 Million to Banks
The U.S. dollar experienced a significant decline, reaching N1,173.88 on Tuesday after the Central Bank of Nigeria sold over $300 million to commercial banks. This intervention led to a one-month high for the naira, reflecting dynamic market movements and economic factors influencing Nigeria's...- Nigeria News
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- 1 min read
- cbn intervention central bank of nigeria commercial banks currency exchange dollar crash foreign exchange market naira surge
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Nigeria CBN Implements Stricter Regulations: BDC Operators Must Reapply for Licences
The Central Bank of Nigeria (CBN) mandates existing Bureau de Change operators to reapply for operational licenses, setting minimum capital requirements. Tier 1 BDCs need N2 billion, Tier 2 N500 million. Non-refundable fees apply. Effective from June 3, 2024, the guidelines aim to streamline...- Nigeria News
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- 1 min read
- bdc operators bureau de change capital requirements cbn foreign exchange market
- Category: Business
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![Today's Naira Rate [17-05-2024]: Nigeria's Currency Crisis Deepens as Naira Slides to 1,533.99 Despite Central Bank Efforts](/data/attachments/204/204044-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [17-05-2024]: Nigeria's Currency Crisis Deepens as Naira Slides to 1,533.99 Despite Central Bank Efforts
Despite intervention by the Central Bank of Nigeria, the Naira fell to a two-month low, reversing earlier gains. With significant market volatility and upcoming rate decisions, the Naira's decline raises concerns about Nigeria's economic stability and investor confidence. The Central Bank of...- Nigeria News
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- 2 min read
- central bank of nigeria foreign exchange market naira devaluation nigerian economy
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![Today's Naira Rate [09-05-2024]: IMF Sounds Alarm as Naira Weakens, Exchange Rate Hits N1,459.73 Against Dollar](/data/attachments/203/203775-147ab142f8cf48479284e57b3d23fc38.jpg?hash=FHqxQvjPSE)
Nigeria Today's Naira Rate [09-05-2024]: IMF Sounds Alarm as Naira Weakens, Exchange Rate Hits N1,459.73 Against Dollar
Explore Nigeria's economic landscape as the naira depreciates against the dollar, reaching N1,459.73. IMF's call for stability amidst high demand and scarcity. Amidst a backdrop of economic turbulence, Nigeria's currency, the naira, continued its downward spiral against the US dollar...- Nigeria News
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- 2 min read
- central bank of nigeria foreign exchange market imf recommendations naira depreciation nigeria currency
- Category: Business
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![Today's Naira Rate [07-05-2024]: Naira Slips to N1,415/$ in Parallel Market Amid Economic Uncertainties](/data/attachments/203/203712-147ab142f8cf48479284e57b3d23fc38.jpg?hash=FHqxQvjPSE)
Nigeria Today's Naira Rate [07-05-2024]: Naira Slips to N1,415/$ in Parallel Market Amid Economic Uncertainties
Amid economic uncertainties, the Nigerian Naira has depreciated to N1,415 per dollar in the parallel market, while in the Nigerian Foreign Exchange Market (NAFEM), it stands at N1,416.57. This decline reflects ongoing challenges in the economy, impacting exchange rate stability and financial...- Nigeria News
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- 1 min read
- currency trends foreign exchange market naira depreciation nigerian economy parallel market todays exchange rate
- Category: Business
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![Today's Naira Rate [05-05-2024]: Naira Weakens to 1,430 Against USD as Demand for Foreign Currency Skyrockets](/data/attachments/203/203661-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [05-05-2024]: Naira Weakens to 1,430 Against USD as Demand for Foreign Currency Skyrockets
Amidst rising demand for foreign currency, the Nigerian Naira depreciates to 1,430 against the US dollar on the parallel market, signifying a 5.49% decline. Factors driving this include increased demand for travel and education. Analysts anticipate stability within the current band. Explore the...- Nigeria News
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- 1 min read
- currency depreciation foreign exchange market nigerian naira parallel market usd to ngn
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![Today's Naira Rate [05-05-2024]: Naira Plummets, Exchange Rate Hits N1420 Against Dollar in 24-Hour Crisis](/data/attachments/203/203634-147ab142f8cf48479284e57b3d23fc38.jpg?hash=FHqxQvjPSE)
Nigeria Today's Naira Rate [05-05-2024]: Naira Plummets, Exchange Rate Hits N1420 Against Dollar in 24-Hour Crisis
In a swift currency crisis, Nigeria's Naira nosedives, plummeted by N130 against the US Dollar, reaching an alarming exchange rate of N1420 within 24 hours. Economic concerns surge as high demand drives the depreciation despite Central Bank interventions. The Naira faced a significant...- Nigeria News
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- 1 min read
- central bank of nigeria economic instability foreign exchange market naira depreciation us dollar
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