The Nigerian Naira fell sharply from N1,600 to N1,780 per dollar in the black market, reversing recent gains. Bureau de Change operators and digital platforms reported volatile rates, with speculators blamed for the decline. Analysts urge stronger policies to stabilize the forex market and...
As of September 18, 2024, the black market exchange rate for the US dollar against the Nigerian Naira reached N1,660. This significant disparity from the official Central Bank rate highlights ongoing economic challenges and a persistent shortage of foreign exchange in Nigeria.
As of September...
Nigeria's FX reserves have surged to $33.58 billion, the highest since March 2024, reflecting significant financial stability. Boosted by World Bank loans and Afrexim Bank disbursements, the reserves' growth marks a recovery amid exchange rate stability and improved forex market liquidity...
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