The naira appreciated to N1,590 per dollar in the parallel market, gaining from N1,600 per dollar last weekend. Meanwhile, the official exchange rate depreciated slightly to N1,549 per dollar. The gap between both markets narrowed to N41 per dollar, reflecting ongoing forex market fluctuations...
As of October 9, 2024, the black market exchange rate for the US dollar has risen to N1,680 against the Nigerian naira. This significant disparity from the official Central Bank of Nigeria rate highlights ongoing economic challenges, including foreign currency shortages and market volatility...
The Nigerian naira fell to N1,561 per dollar, its lowest in three months, at the official market. The currency saw fluctuations in both parallel and official markets amid rising external reserves. The Central Bank of Nigeria allows International Oil Companies to sell 50% of repatriated export...
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