nigerian naira
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Nigeria Naira Appreciation, Price Hikes: Analysts Decode Disconnect Between Exchange Rates and Consumer Costs
Despite the recent surge in the Nigerian Naira against major foreign currencies, prices of goods and services continue to soar, defying expectations of a downward trend. While the Naira gained significant ground against the US Dollar, reaching N1,060 per Dollar compared to a peak of N1,900 in...- Nigeria News
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![Today's Naira Rate [19-04-2024]: Naira Stands Strong at N1,060/$ in Black Market Despite US Economic Uncertainty](/data/attachments/203/203051-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [19-04-2024]: Naira Stands Strong at N1,060/$ in Black Market Despite US Economic Uncertainty
Despite a fluctuating economic landscape, the Nigerian naira exhibited resilience against the US dollar in the black market, maintaining its value while experiencing a slight decline in the official market. Late Thursday, the naira strengthened to N1,060 per dollar in the parallel market...- Nigeria News
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![Today's Naira Rate [17-04-2024]: Concerns Rise as Dollar Picks Up Again Against Naira, Now at N1147](/data/attachments/202/202932-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [17-04-2024]: Concerns Rise as Dollar Picks Up Again Against Naira, Now at N1147
The current Naira-Dollar exchange rate has sparked mixed reactions among Nigerians. Some express surprise at the apparent stability, while others recall past fluctuations. Amidst the discussion, there's speculation about recent trends, with comments on both upward and downward movements...- Nigeria News
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![Today's Naira Rate [12-04-2024]: Nigerians Encouraged By Naira at N1,125 : $1, But Complain About Continued Hardship](/data/attachments/202/202756-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [12-04-2024]: Nigerians Encouraged By Naira at N1,125 : $1, But Complain About Continued Hardship
Amidst a three-day holiday break, the Nigerian naira maintained stability, with the dollar trading at N1,125 on Friday, consistent with Thursday's rate of N1,120. However, due to reduced trading activity during the festive period, irregularities in market rates were observed. Transactions were...- Nigeria News
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Nigeria Naira Surges to N1,350/$ in Parallel Market Amidst CBN Reforms
The Nigerian Naira has seen a significant appreciation, reaching N1,350 per dollar in the parallel market from N1,430 just a day prior. Similarly, in the Nigerian Foreign Exchange Market (NAFEM), the Naira climbed to N1,382.95 per dollar, marking a notable increase from the previous day's rate...- Nigeria News
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Nigeria Nigerian Naira Expected to Reach Exchange Rate of 1200, Predicts Goldman Sachs
Goldman Sachs anticipates strengthening of the Nigerian naira against the US dollar over the next twelve months, projecting an exchange rate of 1200 in the short term. The New York-based investment bank attributes this positive outlook to recent policy reforms aimed at supporting the currency's...- Nigeria News
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Nigeria Naira Hits Rock Bottom: EFCC's Efforts in Vain as Exchange Rate Plummets to N1,825
The Nigerian naira continues its alarming decline, reaching an unprecedented N1,825 against the dollar despite the Economic Financial Crimes Commission's (EFCC) efforts to curb manipulative practices. The agency's recent raid on Abuja Zone 4 market, where gunfire was employed to halt the...- Nigeria News
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Nigeria Economic Jitters as Naira Depreciates to N1,500: Parallel Market Struggles Against Dollar
The Nigerian naira witnessed a 3.45 percent depreciation on Wednesday, plummeting to N1,500 against the dollar in the parallel market. This marks a decline from the N1,450 recorded just two days prior, leaving currency traders, also known as Bureau De Change operators, with a narrow profit...- Nigeria News
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Nigeria Nigeria Braced For Business Collapse As Naira Plummets to Record Low of N1,410/$1
The Nigerian Naira has hit a record low of N1,410 against the US Dollar on the black market, reflecting a 3.29% drop from the previous day's closing rate. The sudden depreciation is attributed to increased demand for dollars, notably from businesses restocking, individuals pursuing overseas...- Nigeria News
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Nigeria Nigerian Naira Hits All-Time Low, Reaches N1043.09/$1, Signaling Economic Concerns
In a dramatic turn of events, the Nigerian Naira has plummeted to an unprecedented low, exchanging at N1043.09 to the dollar at the official foreign exchange market. This shocking depreciation marks a significant decline from N872.59/$ recorded just a day earlier. According to market experts...- Nigeria News
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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
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Nigeria Nigerian Naira Tumbles to Unprecedented N1,099.05/$, Fueling Economic Worries Ahead of Christmas
In a historic development on December 8th, 2023, the Nigerian Naira experienced an alarming depreciation, closing at an all-time low of N1,099.05 per dollar in the official market. This 23.29% drop in value, compared to the previous closing rate, raises significant concerns just weeks before...- Nigeria News
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Nigeria Nigerian Naira Falls to N1,165/$ at Parallel Market, Sparking Economic Concerns
The Nigerian naira faced further depreciation, reaching N1,165 per dollar in the parallel foreign exchange market on Thursday. This marks a 0.43 percent decrease compared to the N1,160 rate just two days earlier. Currency traders, or Bureau De Change operators, quoted buying rates at N1,155 and...- Nigeria News
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Nigeria Naira Exchange Rate Plummets to N1,135/$ in Parallel Market, Raising Economic Alarms
The Nigerian Naira faced a significant challenge in the foreign exchange market as it depreciated to N1,135 per US dollar on Wednesday at the parallel market. This represents a notable N15 or 1.35 percent depreciation compared to the previous day's exchange rate of N1,120. Currency traders...- Nigeria News
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Nigeria Nigerian Naira Gains Ground, Closes at NGN801.10/$1 in Official Market
On Wednesday, the Nigerian naira experienced a significant boost, appreciating against the US dollar as it closed at NGN801.10 per $1. This marks a remarkable 5.83% increase from the previous day's rate, which stood at NGN847.77/$1. The day's forex market saw an intraday high of N891/$1 and an...- Nigeria News
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Nigeria Naira Crashes to All-Time Low: Hits N1,100 Against US Dollar
In a significant and alarming development, the Naira, Nigeria's national currency, suffered a dramatic drop to its lowest rate ever against the United States dollar in the official market. According to market data released on the FMDQ website, the local currency concluded its trading session at...- Nigeria News
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Metro Abuse The Naira, Go To Jail - CBN Warns Nigerians
The Central Bank of Nigeria on Friday warned Nigerians against abusing the naira notes. The apex bank said anyone caught abusing the naira would be prosecuted and if convicted the person risked six months in jail or a fine of N50,000. An official of the Currency Operation Department at the CBN...- mrsam
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Business Naira Appreciated By 30.3% As CBN' Pumped $3.6Bn' in 10 Months Into FX Market
The naira has appreciated by 30.3 per cent since February when the Central Bank of Nigeria (CBN) began its aggressive interventions at the foreign exchange market. The Nigerian currency had exchanged at N520 to the dollar at the peak of onslaughts by currency speculators before the CBN stated...- ProfRem
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Business Pastor Adeboye Laments Over Cost To Fix 'Mighty Auditorium' Roof As Naira Woes Persist
The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye has lamented over the cost of fixing a 'might auditorium' due to the devaluation of Nigerian naira. The revered man of God also predicted that Nigeria’s legal tender, Naira, will become a powerful currency...- ProfRem
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Business Nigeria Naira Hits Resistance at N360 Per Dollar
The naira is expected to remain stable across its multiple exchange rates as the currency hit a resistance level for investors and the Central Bank of Nigeria continues to intervene on the official market. According to Reuters, the local unit has hit resistance at 360/dollar for investors as...- ProfRem
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