nigerian naira

The naira is expected to depreciate further against the United States dollar at the parallel market despite increase in Nigeria's foreign reserve. Nigeria's forex exchange reserves have gained more than $2bn in 2017, rising to $28.2bn on February 2. The local currency had been stable against...

A Nigerian man, Mohammed DeeDee has asked former President, Goodluck Jonathan for forgiven over his statement over when Naira fell to 180 per dollar at the official market in 2014. In 2016, under President Muhammadu Buhari, the naira has fallen to 305 per dollar at the paralle market and almost...

The naira bounced back against the United States dollar from 500 to 498 at the parallel market on first day trading February, 2017. The naira has been under persistent pressure as scarcity of the greenback continues to hit the market. The currency still maintained high rate against the pound...

Paul Alaje, an economist with the SPM Professionals, Abuja has written extensively on the naira-dollar crisis currently faced in Nigeria. In the article, "The Naira Is Dead: Lets Redenominate the Currency Before Its Too Late!", he delved into the hidtorical antecedent of the currency and why it...

Nigerian naira may be heading towards doom as Bureau De Change operators, most in Lagos state have gone underground. The Central Bank capped prices that non-bank dealers can charge their customers for foreign exchange, effectively pegging the black-market rate, while endorsing the Department of...

The Naira appreciated on both the interbank and parallel segments of the market, after the Department of State Security Service, DSS raided and arrested of some licensed currency dealers who were said to be selling foreign exchange (FX) above the prescribed limit. On the interbank FX market...

Nigerian naira remained steady despite shock at global markets as Republican candidate, Donald Trump coasts victory at the just concluded US presidential election. The US dollar fell by over three percent to the Japanese yen, while the Mexican Peso crashed to fresh record lows against the US...

The Nigerian naira set to revive its losses as traders anticipate improved dollar supply from international money transfer agencies to ease a shortage, which has pushed down the local currency. The naira fell to N470 to the dollar on the parallel market yesterday from N455 a dollar last week...

The Nigerian naira on Thursday midday trading crashed to 470 per dollar at the parallel market as liquidity issue persists in the forex market. The currency declined by 3 points from N467 overnight market to N470 on Thursday afternoon. It remained steady at the inter-bank market, exchanging...

The Nigerian Naira on Tuesday fell by 0.58% against United States Dollar to close at N306.78 in Interbank FX Market and 0.86% to N467.00 in parallel market as Travelex and First Bank of Nigeria Plc begin the sale of Forex to Bureau De Change operators in the North. The Pound Sterling also...

The Naira on Tuesday appreciated further against the US dollar at the black segment of the foreign exchange market. The currency gained 2 points to exchange at N453 to the dollar at the parallel market, from N455 it traded on Monday while the Pound Sterling and the Euro remained steady at N545...

The naira on Monday appreciated further following the Central Bank of Nigeria’s approval of dollar sale to Bureau De Change operators. The CBN has approved First Bank of Nigeria Limited and Travelex, a global foreign exchange company, to commence sale of dollars to the BDC operators. The...

The Naira on Friday continued to appreciate against the three major currencies at the parallel market. At the official inter-bank market, the Naira gained slightly remain steady at N304.50 from N304.75 posted on Thursday.. On Friday morning, the currency strengthened against the dollar, euro...

Nigerian naira on Monday fell 1.45% to 310.50 to a United State Dollar at the inter-bank market, despite Travelex sale of dollars to the Bureau De Change operators. The currency closed at N305.99 to the dollar on Friday, according to data compiled by Bloomberg. Travelex, a foreign exchange...

Nigerian naira may stabilise on the parallel market after international money transfer agencies started selling dollars to Bureau De Change operators in line with the Central Bank of Nigeria directive. The naira was quoted at 473 to the dollar on the black market on Friday, compared with 480...

Nigerian naira appreciated 3.14% against the United States Dollar to close at N310. 24 at the Inter-bank foreign exchange market, seventy-two days after the Central bank of Nigeria removed peg on the country's currency. At the parallel market, the currency appreciated slightly tot 475 from 476...

The Naira hit record low of N445 on Monday, the weakest dropped ever since the Central Bank of Nigeria removed peg on the country's currency. Traders believed that the reason for the drop was due to “speculators and strong demand from parents buying dollars to pay school fees abroad”, Reuters...

The Naira on Friday depreciated in most major segments of the foreign exchange market just as inflation hits 17.6 percent. The Nigerian currency fell by N2.24 to exchange at N308.69 to the dollar at the interbank market, from N306.93 recorded on Thursday. At the Bureau De Change it closed at...

Nigerian Naira appreciated 3.3 per cent to 314 to the dollar at the inter-bank market as of 11:39 a.m in Lagos, the commercial nerve centre of the country. The currency at mid day trading posed the biggest intra-day gain since August 31, 2016, according to data compiled by Bloomberg. Nigerian...

Nigerian naira on Monday advanced 1.2% gain to 310.50 to a United States dollar at the inter bank market at 10:45am in Lagos, the center hub of the country. Naira 3-month non deliverable forwards remain unchanged at 351 to a US Dollar Meanwhile, deeply worried by the poor state of the...