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Business Naira Appreciates After DSS Raid on BDCs
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...- ProfRem
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Business Naira Steady As Shock of Trump Presidency Hits Global Markets
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...- ProfRem
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Business Naira To Appreciate Next Week As Dollar Supply Increase
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...- ProfRem
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Business Naira Crashes to 470 Per Dollar At Parallel Market
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...- ProfRem
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Business Naira Falls At Inter-bank, Parallel Markets
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...- ProfRem
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Business Naira Appreciates to 453 Per US Dollar At Parallel Market
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...- ProfRem
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Business Naira Appreciates Further, Now 455/USD At Parallel Market
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...- ProfRem
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Business Naira Appreciates Against 3 Major Currencies
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...- ProfRem
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Business Naira Falls to 310/USD At Inter-Bank, Steady At Parallel Market
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...- ProfRem
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Business Naira to Record Gain Next Week - BDCs
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...- ProfRem
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Business Naira Appreciates 3.14% to 310/USD1 At Inter-Bank Market
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...- ProfRem
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Business Why Naira Keeps Falling At The Parallel Market - Trader
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...- ProfRem
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Business Naira Drops Against US Dollar At Parallel, Inter-Bank Markets
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...- ProfRem
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Business Naira Appreciates 3.3% to 314 Per Dollar, Biggest Gain Since August 31
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...- ProfRem
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Business Naira Appreciates 1.2% to 310 Per Dollar
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...- ProfRem
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Business How The Naira Performed Against Dollar, Euro, Pound This Week
Nigerian Naira on Friday appreciated against the dollar in all the segments of the Forex market. The currency exchanged at N422 to the dollar, gaining 3 points from N425 it traded on Thursday, while the Pound Sterling and the Euro closed at N535 and N464 respectively. At the Bureau De Change...- ProfRem
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Business Naira Watch: Tracking Nigeria's Currency [Day 48]
The naira on Monday depreciated slightly to close at 314.75 to the dollar at the inter-bank market, forty -eight days after the Central bank of Nigeria introduced the flexible exchange rate policy, according to data compiled by Bloomberg. The currency on Friday closed at 314.25 to the dollar...- ProfRem
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Business Naira Weakens 8.9% to 342 Per Dollar At Inter-Bank Market
The Nigerian naira weakened 8.9% to 342.05 per US dollar, forty -six official days after the Central bank of Nigeria introduced the flexible exchange rate policy, according to data compiled by Bloomberg. Meanwhile, the Nigerian Naira was on Wednesday quoted at 402 naira per dollar on the...- ProfRem
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Business Naira Becomes Worst Performing Currency Among 150 Currencies Globally [Bloomberg]
The naira is the worst performing currency this year among more than 150 currencies globally, the Bloomberg media has said. It has depreciated 37 percent against the dollar, 44 days since the Central Bank abandoned its peg on June 20, while bond yields have jumped to more than 20 percent. The...- ProfRem
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Business Naira Hits New All-Time Low of 350.91 to Dollar
Nigeria's naira hit an all-time low of 350.91 to the dollar on Friday in one interbank market trade worth $1 million, Thomson Reuters data showed. The currency began the day at 317.50 naira to the dollar. A total of only $2.01 million had been traded as of 1143 GMT. The naira over the last...- ProfRem
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