nigerian forex market
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![Today's Naira Rate[25-09-2024]: Naira Depreciates to N1,658.48 as CBN Raises Interest Rates for Fifth Time in 2024](/data/attachments/208/208624-4803cd99f027345ad0bd4f909c6fbdcc.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[25-09-2024]: Naira Depreciates to N1,658.48 as CBN Raises Interest Rates for Fifth Time in 2024
The naira fell by N95.83 to N1,658.48 against the dollar after the Central Bank of Nigeria's rate hike. Increased dollar supply saw market activity surge by 66%. The CBN raised interest rates to 27.25% to stabilize the currency amid growing inflation and monetary supply concerns. The naira...- Nigeria News
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- cbn interest rate naira depreciation nigerian forex market
- Category: Business
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![Today's Naira Rate[09-09-2024]: Naira Under Pressure: Black Market Dollar Exchange Hits N1,650](/data/attachments/208/208110-c6836094039870406a4c9c067d1b5038.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[09-09-2024]: Naira Under Pressure: Black Market Dollar Exchange Hits N1,650
As of September 9, 2024, the black market exchange rate for the US dollar to the Nigerian naira stands at N1,650. The rate varies from the Central Bank of Nigeria's official exchange rate of N1,629, reflecting growing economic challenges, currency shortages, and pressures on Nigeria's forex...- Nigeria News
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- 1 min read
- black market rate cbn official rate dollar to naira exchange rate nigerian forex market september 9 exchange rate
- Category: Business
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![Today's Naira Rate[28-08-2024]: Naira Continues Decline, Black Market Dollar Rate Reaches ₦1,605 Today](/data/attachments/207/207709-c7c73d7caf96c48d419438aead43e427.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[28-08-2024]: Naira Continues Decline, Black Market Dollar Rate Reaches ₦1,605 Today
The black market exchange rate for the U.S. dollar to the Nigerian naira is ₦1,605 for buying and ₦1,615 for selling as of August 28, 2024. This rate highlights the naira's depreciation against the dollar, exacerbating economic challenges in Nigeria amidst ongoing forex market volatility. As of...- Nigeria News
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- dollar to naira exchange rate nigerian forex market usd to ngn rate august 2024
- Category: Business
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![Today's Naira Rate[21-08-2024]: Naira Weakens Further, Black Market Rates Reach N1,615 Per Dollar](/data/attachments/207/207447-212178087eb0d283118d468115956c78.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[21-08-2024]: Naira Weakens Further, Black Market Rates Reach N1,615 Per Dollar
The Naira dropped N27.58 against the dollar in just two days, reaching N1,592.06 at the official market. In the black market, it fell to N1,615. The Central Bank of Nigeria's recent interventions are under scrutiny as the currency continues to weaken amid inconsistent foreign exchange policies...- Nigeria News
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- 1 min read
- central bank of nigeria naira exchange rate nigerian forex market
- Category: Business
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![Today's Naira Rate[08-08-2024]: Naira Hits N1593.62 per Dollar in Official Market Following CBN Auction](/data/attachments/207/207015-affd57b9486c10fafb7fff73c5d55218.jpg?hash=r_1XuUhsEP)
Nigeria Today's Naira Rate[08-08-2024]: Naira Hits N1593.62 per Dollar in Official Market Following CBN Auction
The naira appreciated against the dollar at the official foreign exchange market, closing at N1593.62 per dollar, up from N1596.52. The Central Bank of Nigeria’s recent $876.26 million sale to banks and the Retail Dutch Auction System contributed to this positive trend, signaling potential...- Nigeria News
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- 1 min read
- cbn forex intervention dollar exchange rate n1593.62 per dollar naira appreciation nigerian forex market
- Category: Business
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Nigeria CBN Boosts Naira with $20,000 Sale to BDCs at N1,450/$1
The CBN has authorized the sale of $20,000 to each BDC at N1,450/$1 to bolster the naira and address forex market challenges. This initiative aims to stabilize exchange rates and reduce disparities between official and parallel markets. Stay informed on CBN's efforts to enhance currency...- Nigeria News
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- 1 min read
- bureau de change rates cbn forex sale naira exchange stability nigerian forex market
- Category: Business
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![Today's Naira Rate [23-05-2024]: Naira Depreciates to N1,510 Against Dollar in Parallel Market Amidst Forex Volatility](/data/attachments/204/204266-6e202405f2f497d63440ce71bc64dc98.jpg?hash=biAkBfL0l9)
Nigeria Today's Naira Rate [23-05-2024]: Naira Depreciates to N1,510 Against Dollar in Parallel Market Amidst Forex Volatility
The Naira depreciated to N1,510/$ in the parallel market but appreciated to N1,482.81/$ at the official window. Central Bank Governor Olayemi Cardoso emphasized ongoing reforms and the need for stakeholder cooperation to address economic challenges and inflation, aiming to improve the livelihood...- Nigeria News
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- 2 min read
- cbn monetary policy naira appreciation naira depreciation nigerian forex market parallel market exchange rate todays exchange rate
- Category: Business
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