foreign exchange rate
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![Today's Naira Rate[18-09-2024]: Naira Gains to N1,539.65 as Dollar Supply Surges, Boosting FX Market](/data/attachments/208/208428-eed813ce5f785b72cc3ca07b2771db31.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[18-09-2024]: Naira Gains to N1,539.65 as Dollar Supply Surges, Boosting FX Market
The Nigerian naira strengthened by N116.84 against the U.S. dollar due to increased dollar liquidity, closing at N1,539.65 in the official FX market. With a 7.59% rise, the surge in supply boosts import prospects and investor confidence, though concerns linger for exporters facing reduced...- Nigeria News
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Nigeria Nigeria Customs Service Raises Import Duty FX Rate to N1,474.69 per Dollar
The Nigeria Customs Service adjusts import duty FX rate to N1,474.69 per dollar, marking a 23.2% increase from the previous rate. This change, reflected on the government's trade portal, aligns with customs' practice. The Nigeria Customs Service (NCS) has increased the foreign exchange (FX)...- Nigeria News
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Nigeria Nigeria Customs Cuts Import Duty FX Rate to N1,480 Per Dollar
Nigeria Customs has reduced the forex rate for import duties to N1,480 per US dollar, down 3.28% from N1,530. The new rate, effective Monday, aims to manage import costs but raises inflation concerns. Experts debate pros and cons amid Nigeria's currency challenges. The Nigeria Customs Service...- Nigeria News
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Nigeria CBN Adjusts Import Duty FX Rate to N1,457/$ Amid Naira Depreciation
Amidst Naira's depreciation to N1,515/$, the Central Bank of Nigeria increases the import duty exchange rate to N1,457/$. This 3% hike poses challenges for importers, with the former Shippers Association president criticizing the instability. Analysts foresee continued Naira depreciation unless...- Nigeria News
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Nigeria Nigeria's Naira Surges to N856.57 Against the Dollar: Afreximbank's $2.25 Billion Boost Sparks Economic Momentum
The naira further strengthened against the US dollar on Monday, December 8, 2024, marking its third gain of the New Year. Closing at an impressive N856.57 to a dollar in the official market, the domestic currency witnessed a 1.45% appreciation, indicating a significant N12.56 gain over the...- Nigeria News
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Nigeria Naira Plummets to 1,030/$ as Speculators Fuel Exchange Rate Decline
The Nigerian Naira faced a steep fall on Monday, hitting an average of 1,030 Naira against the US Dollar in the parallel market. This marked a significant loss, with an 8.42% decline compared to the N950 exchange rate at the close of the previous week. This alarming devaluation follows a recent...- Nigeria News
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Business Naira Hits Record Low at N930/US$ Due to Forex Shortage
The foreign exchange market in Nigeria continues to grapple with turmoil, and recent indicators suggest that the challenges stemming from the foreign exchange reforms in June 2023 are persisting. The Naira has faced further depreciation in the parallel market, falling to N930 per US dollar, down...- Nigeria News
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Business Naira Appreciates to N736 per Dollar in I&E Exchange Window
The Nigerian naira showed signs of improvement as it appreciated to N736.62 per US dollar at the Investors and Exporters (I&E) window, which serves as the official exchange rate window in the country. This represents a notable 4.53 percent appreciation from the previous rate of N771.59 on the...- Nigeria News
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Politics Tinubu and CBN Governor Confer Amid Rising Naira Exchange Rate Concerns
President Bola Tinubu of Nigeria has expressed concerns regarding the escalating exchange rate between the naira and the dollar, prompting a meeting with Folashodun Sonubi, the acting governor of the central bank. The purpose of their discussion was to explore strategies aimed at stabilizing the...- Nigeria News
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