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naira exchange rate

  1. Naira Soars to 8-Month High of 1,120/$ as Dollar Supply Surges

    Nigeria Naira Soars to 8-Month High of 1,120/$ as Dollar Supply Surges

    The Nigerian Naira has surged to an eight-month high of 1,120 per dollar on the black market, propelled by recent foreign exchange reforms implemented by the Central Bank of Nigeria (CBN). This marks a significant gain of 62.95 percent over the dollar compared to February 2024 levels. Traders...
    • Nigeria News
    • Article
    • 1 min read
    • black market forex cbn reforms naira exchange rate
    • Category: Business
  2. Traders on Edge as Customs FX Rate Surges to N1,330/$, Exceeding Official Market

    Nigeria Traders on Edge as Customs FX Rate Surges to N1,330/$, Exceeding Official Market

    Recent developments in Nigeria's foreign exchange landscape reveal a noteworthy surge in the customs exchange rate for import duties, exceeding the official market rate. The rate for cargo clearance currently stands at N1,330.36 per USD, significantly higher than the official market's N1,278/$1...
    • Nigeria News
    • Article
    • 1 min read
    • bureau de change cbn reforms central bank of nigeria currency speculation customs fx rate foreign exchange market monetary policy naira exchange rate nigerian economy
    • Category: Business
  3. Currency Traders Cheer as Naira Strengthens to N1,250 Per Dollar

    Nigeria Currency Traders Cheer as Naira Strengthens to N1,250 Per Dollar

    The Nigerian naira saw an appreciation to N1,250 per dollar in the parallel foreign exchange market on Monday, marking a 0.43 percent increase from the N1,280 recorded on March 29. Bureau de Change operators in Lagos quoted the buying rate of the dollar at N1,230 and the selling price at...
    • Nigeria News
    • Article
    • 1 min read
    • bdc foreign exchange market forex market naira exchange rate nigerian economy parallel market
    • Category: Business
  4. Currency Woes: Naira Records Further Depreciation Against Dollar

    Nigeria Currency Woes: Naira Records Further Depreciation Against Dollar

    The Nigerian Naira fell to N1,620 against the US Dollar at the parallel market, marking a N20 decrease from the start of March. Bureau de Change operators quoted buying at N1,600 and selling at N1,620. The official exchange rate saw the Naira dip to N1,627.40 against the Dollar, a 1.57% fall...
    • Nigeria News
    • Article
    • 1 min read
    • economic news foreign exchange forex market naira exchange rate nigeria currency depreciation
    • Category: Business
  5. Central Bank Faces Criticism as Naira Loses Ground, Now at N1,620/$

    Nigeria Central Bank Faces Criticism as Naira Loses Ground, Now at N1,620/$

    In a concerning economic development, the Naira faced a 1.25 percent depreciation against the US Dollar, reaching N1,620/$ at the parallel market on Monday. This marks a N20 decline from its trading rate of N1,600 on March 1, 2024. Bureau de Change (BDC) operators in Lagos quoted buying rates at...
    • Nigeria News
    • Article
    • 1 min read
    • exchange rate today forex crisis naira exchange rate naira to dollar parallel market
    • Category: Business
  6. Currency Traders Celebrate as Naira Makes Impressive Jump to N1,500/$

    Nigeria Currency Traders Celebrate as Naira Makes Impressive Jump to N1,500/$

    The Nigerian Naira continues its upward trend in the parallel foreign exchange (FX) market, reaching N1,500/$ on Wednesday. This remarkable 9.09% gain from the N1,650/$ recorded just two days earlier has caught the attention of currency traders, with bureau de change (BDC) operators quoting...
    • Nigeria News
    • Article
    • 1 min read
    • cbn governor foreign exchange market naira exchange rate parallel market surge yemi cardoso
    • Category: Business
  7. CBN's Efforts Ineffective as Naira Falls to N1960 against Euro

    Nigeria CBN's Efforts Ineffective as Naira Falls to N1960 against Euro

    The Nigerian Naira has reached an unprecedented low, hitting N1960 per Euro in the black market, marking a significant decline of 5.36% from the previous day. This historic depreciation comes amidst persistent demand pressures and soaring inflation, which rose to 29.90%, as reported by the...
    • Nigeria News
    • Article
    • 1 min read
    • black market central bank policies forex market inflation surge naira exchange rate
    • Category: Business
  8. Naira Freefall: Nigerians Alarmed As Dollar Rate Hits 1,900

    Nigeria Naira Freefall: Nigerians Alarmed As Dollar Rate Hits 1,900

    The Nigerian naira is facing a severe crisis, dropping to N1,900 against the US Dollar in some cities, despite the government's crackdown on forex speculators. The Federal Government raided Bureau De Change (BDC) hubs in Abuja, Lagos, and Kano, leading to arrests of operators. National Security...
    • Nigeria News
    • Article
    • 1 min read
    • bureau de change raid cbn federal government clampdown forex market crisis naira exchange rate nigeria currency
    • Category: Business
  9. Nigerians Slam CBN Governor for Blaming Students Abroad for Naira's Exchange Rate Woes

    Nigeria Nigerians Slam CBN Governor for Blaming Students Abroad for Naira's Exchange Rate Woes

    The Central Bank of Nigeria's Governor, Dr. Olayemi Cardoso, addresses the House of Representatives, linking the depreciation of the naira against the dollar to the increasing number of Nigerians pursuing education and medical treatments overseas. The governor outlines plans to tackle the high...
    • Nigeria News
    • Article
    • 1 min read
    • cbn governor finance minister naira exchange rate nigeria economy wale edun yemi cardoso
    • Category: Politics
  10. Naira Bounces Back at Official Forex Window, Parallel Market Struggles

    Nigeria Naira Bounces Back at Official Forex Window, Parallel Market Struggles

    Amidst concerns over the Nigerian currency's volatility, the naira experienced a positive turn at the official forex window, strengthening by 1.09% to close at 1,419.86/$, following reassurances from the Central Bank of Nigeria Governor, Olayemi Cardoso. Last week saw the naira hitting an...
    • Nigeria News
    • Article
    • 1 min read
    • central bank of nigeria foreign exchange market forex market naira exchange rate nigerian currency
    • Category: Business
  11. Central Bank's New Forex Regulations Trigger Varied Sentiments in Nigeria

    Nigeria Central Bank's New Forex Regulations Trigger Varied Sentiments in Nigeria

    The Central Bank of Nigeria (CBN) has enacted stringent measures to bolster liquidity in the foreign exchange market, instructing banks to limit their Net Open Position (NOP) of foreign currency assets and liabilities to 20% of shareholders' funds. The directive, issued through a CBN circular...
    • Nigeria News
    • Article
    • 1 min read
    • cbn cbn forex policy naira exchange rate nigeria economy
    • Category: Business
  12. Businesses on Edge as Naira Hits Record Low of N1,482.57 per $1, Fueling Economic Uncertainty

    Nigeria Businesses on Edge as Naira Hits Record Low of N1,482.57 per $1, Fueling Economic Uncertainty

    The Nigerian Naira hit a historic low against the US dollar on Tuesday, causing concern in financial circles. Official figures reveal that the Naira closed at N1,482.57 per $1, showing a significant 10% drop from the previous day. The situation worsened in the unofficial market, where the...
    • Nigeria News
    • Article
    • 1 min read
    • cbn currency crisis depreciation forex markets naira exchange rate us dollar
    • Category: Business
  13. Naira Hits Record Low at N1,320/$1 Amid High Demand and Mass Departure of Overseas Nigerians

    Nigeria Naira Hits Record Low at N1,320/$1 Amid High Demand and Mass Departure of Overseas Nigerians

    The Nigerian Naira experienced a significant drop, reaching a historic low of N1,320 per dollar—3.03% weaker than the previous day's closing rate of N1,280. This marks the lowest point since October 26, 2023. Analysts attribute the fall to a surge in demand for dollars. Businesses restocking...
    • Nigeria News
    • Article
    • 1 min read
    • exchange rate today naira exchange rate naira to dollar exchange rate nigerias naira
    • Category: Business
  14. Naira Drops to N1,230/$ in Parallel Market, Inches Up to N872.59/$ Officially

    Nigeria Naira Drops to N1,230/$ in Parallel Market, Inches Up to N872.59/$ Officially

    The Nigerian Naira faced contrasting fates in currency markets. The parallel market recorded a depreciation, with the naira sliding to N1,230 per dollar, a slight dip from N1,225 per dollar the previous week. On the other hand, in the official Nigerian Foreign Exchange Market (NAFEM), the naira...
    • Nigeria News
    • Article
    • 1 min read
    • nafem naira depreciation naira exchange rate nigerian naira
    • Category: Business
  15. Naira Tumbles to 1,220/Dollar as FG Unveils Forex Automation Plan to Stem Devaluation Crisis

    Nigeria Naira Tumbles to 1,220/Dollar as FG Unveils Forex Automation Plan to Stem Devaluation Crisis

    In a decisive move to counter the ongoing slump of the Naira, the Federal Government unveiled plans to automate all transactions within the foreign exchange market. The announcement was made by the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, during the 29th Nigeria...
    • Nigeria News
    • Article
    • 3 min read
    • currency devaluation exchange rate today naira devaluation naira exchange rate premium times yemi cardoso
    • Category: Business
  16. S

    Business Naira Exchange Rate today (23/07/2020) - Aboki Fx

    Parallel Market Rate
  17. S

    Business Naira Exchange Rate today (21/07/2020) - Aboki Fx

    Today's Naira exchange rate according to AbokiFx is below
  18. S

    Business Naira Exchange Rate today (20/07/2020) - Aboki Fx

    Today's Naira exchange rate according to AbokiFx is below
  19. S

    Business Naira crashes to N470/$1 as currency uncertainty worsens - nairametrics

    https://nairametrics.com/2020/07/16/naira-crashes-to-n470-1-as-currency-uncertainty-worsens/
  20. S

    Business Navigating Nigeria’s Foreign-Exchange Maze on Path to Fair Value - Bloomberg

    https://www.bloomberg.com/news/articles/2020-07-12/a-user-s-guide-to-navigating-nigeria-s-foreign-exchange-maze

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