parallel market
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![Today's Naira Rate [09-12-2024]: Naira Hits N1,550/$ in Parallel Market, Official Rate Experiences Minor Drop](/data/attachments/211/211197-6f69f06e74344fc092be918cd69a3c80.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [09-12-2024]: Naira Hits N1,550/$ in Parallel Market, Official Rate Experiences Minor Drop
The Naira appreciated in the parallel market, trading at N1,550 per dollar, gaining N5 from last weekend. However, the official market saw a slight depreciation of N1,538. The exchange rate gap between the two markets narrowed to N12, reflecting ongoing stabilization efforts by the Central Bank...- Nigeria News
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- central bank of nigeria exchange rate naira appreciation parallel market
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![Today's Naira Rate [05-12-2024]: Naira Appreciates to N1,695/$ as Demand Drops Ahead of Holidays](/data/attachments/211/211009-eab1fb3d676e2af5c5c71e025958d3db.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate [05-12-2024]: Naira Appreciates to N1,695/$ as Demand Drops Ahead of Holidays
The Naira appreciates to N1,695 per dollar in the parallel market, showing a positive trend as demand decreases with the festive season approaching. It remains stable at N1,672.69 per dollar in NAFEM. Dollar turnover rose, and experts predict Naira stability as the year ends, with a narrowed...- Nigeria News
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- 2 min read
- foreign exchange market nafem rate naira appreciation nigerian currency exchange parallel market
- Category: Business
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![Today's Naira Rate [04-12-2024]: Naira Strengthens to N1,725 per Dollar in Parallel Market](/data/attachments/210/210954-c3a1443bf983c269bff67902370022d3.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [04-12-2024]: Naira Strengthens to N1,725 per Dollar in Parallel Market
The Naira appreciated to N1,725 per dollar in the parallel market, a slight increase from N1,730 on Monday. However, the Naira remained stable at N1,672.69 in the Nigerian Autonomous Foreign Exchange Market (NAFEM). The volume of dollar trading decreased by 18.2%, narrowing the margin between...- Nigeria News
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- 1 min read
- foreign exchange stability nafem naira exchange rate nigerian currency parallel market
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![Today's Naira Rate[07-11-2024]: Naira Appreciates to N1,720/$ in Parallel Market as Dollar Turnover Soars](/data/attachments/209/209957-f5e920323be553249c735a46597cceb5.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[07-11-2024]: Naira Appreciates to N1,720/$ in Parallel Market as Dollar Turnover Soars
The Naira appreciated to N1,720 per dollar in the parallel market and N1,671.32 per dollar in the NAFEM market. The official market saw a 124% rise in dollar turnover, though the gap between the parallel and official market rates widened slightly, raising concerns about currency stability. The...- Nigeria News
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- 2 min read
- nafem exchange rate naira appreciation nigerian currency parallel market
- Category: Business
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![Today's Naira Rate [22-10-2024]: Naira Climbs to ₦1,715 in Parallel Market Amid Rising Dollar Trading Volume](/data/attachments/209/209423-060f268af27363b5a828adb57ad43123.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate [22-10-2024]: Naira Climbs to ₦1,715 in Parallel Market Amid Rising Dollar Trading Volume
The Naira appreciated in the parallel market, trading at ₦1,715 per dollar on October 21, while depreciating in the Nigerian Autonomous Foreign Exchange Market (NAFEM) to ₦1,603.16. Central Bank Governor Olayemi Cardoso highlighted the potential benefits of a weaker Naira for boosting exports...- Nigeria News
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- 1 min read
- cbn governor dollar exchange rate foreign exchange market naira parallel market
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![Today's Naira Rate[17-10-2024]:Naira Depreciates Further to ₦1,705 Against the Dollar in Black Market](/data/attachments/209/209264-75239364762d3e0f4a7e85481c4aa046.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[17-10-2024]:Naira Depreciates Further to ₦1,705 Against the Dollar in Black Market
The naira’s value has dropped to ₦1,705 per dollar in the parallel market, reflecting a continued decline due to high demand for U.S. dollars and limited foreign exchange inflows. This latest depreciation highlights the naira's vulnerability amidst Nigeria’s foreign exchange challenges. The...- Nigeria News
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- 1 min read
- dollar naira exchange rate naira exchange rate parallel market
- Category: Business
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![Today's Naira Rate[27-09-2024]: Parallel Market Rate Reaches N1,700—What This Means for Nigeria](/data/attachments/208/208726-4783f128adc190a22844bc3d66f36e78.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[27-09-2024]: Parallel Market Rate Reaches N1,700—What This Means for Nigeria
The Nigerian naira has depreciated to N1,700 per dollar in the parallel market, marking the lowest rate in seven months. Despite a temporary rise in the official market, the naira continues to face fluctuations. The Central Bank of Nigeria is implementing reforms to stabilize the currency. On...- Nigeria News
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- 2 min read
- central bank of nigeria foreign exchange rates parallel market
- Category: Business
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![Today's Naira Rate[22-07-2014]: Black Market USD to Naira Rate Hits ₦1,598](/data/attachments/206/206376-3c44473101cfdb95816e4fca0635f7db.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[22-07-2014]: Black Market USD to Naira Rate Hits ₦1,598
On July 22, 2024, the black market exchange rate for USD to NGN in Lagos is ₦1,590 buying and ₦1,598 selling. In contrast, the Central Bank of Nigeria sets its official rates at ₦1,584 buying and ₦1,585 selling. Rates may vary slightly due to market conditions. On July 22, 2024, the black...- Nigeria News
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- 1 min read
- black market dollar rate cbn dollar rate exchange rate parallel market usd to naira exchange rate
- Category: Business
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Nigeria Naira Hits N1,620/$ in Parallel Market as Depreciation Continues
The naira fell to N1,620 against the dollar in the parallel market on July 18, marking its fifth straight day of depreciation. Official rates showed a slight recovery to N1,566.82. The Central Bank of Nigeria's interventions and calls for stabilization highlight ongoing concerns about currency...- Nigeria News
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- 2 min read
- central bank of nigeria foreign exchange market naira depreciation naira exchange rate nigeria currency parallel market
- Category: Business
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![Today's Naira Rate[09-07-2014]: CBN Faces Challenge as Black Market Dollar Rate Climbs to N1520](/data/attachments/205/205953-3c44473101cfdb95816e4fca0635f7db.jpg?hash=PERHMQHP25)
Nigeria Today's Naira Rate[09-07-2014]: CBN Faces Challenge as Black Market Dollar Rate Climbs to N1520
Discover today's black market exchange rates for USD to NGN in Lagos, where buying stands at N1520 and selling at N1530. Despite CBN efforts to regulate forex through official channels, the parallel market shows volatility, reflecting economic policies and global trends. Today, the black market...- Nigeria News
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- 1 min read
- black market exchange rate black market rates forex nigeria lagos bureau de change rates parallel market usd ngn usd to ngn
- Category: Business
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![Today's Naira Rate[04-07-2014]: CBN's Efforts Pay Off as Naira/Dollar Exchange Rates Align at N1,520 in Parallel and Official Markets](/data/attachments/205/205799-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate[04-07-2014]: CBN's Efforts Pay Off as Naira/Dollar Exchange Rates Align at N1,520 in Parallel and Official Markets
The naira/dollar exchange rate in Nigeria converged at N1,520 across both official and parallel markets. This significant alignment, driven by the Central Bank of Nigeria, aims to stabilize the naira and enhance market transparency. The change is expected to impact import costs, inflation rates...- Nigeria News
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- 1 min read
- black market currency depreciation nigerian naira parallel market
- Category: Business
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![Today's Naira Rate [20-05-2024]: Nigerian Naira Hits N1,490/$ at Parallel FX Markets](/data/attachments/204/204131-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [20-05-2024]: Nigerian Naira Hits N1,490/$ at Parallel FX Markets
Nigeria's forex market experiences a notable shift as the Naira strengthens against the dollar, reaching N1,490 at parallel markets. Traders in Lagos report buying rates at N1,450 and selling at N1,490, marking a 1.34% increase from previous rates. Stay updated on economic fluctuations for...- Nigeria News
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- 1 min read
- foreign exchange forex naira exchange rate nigeria parallel market
- Category: Business
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![Today's Naira Rate [07-05-2024]: Naira Slips to N1,415/$ in Parallel Market Amid Economic Uncertainties](/data/attachments/203/203712-147ab142f8cf48479284e57b3d23fc38.jpg?hash=FHqxQvjPSE)
Nigeria Today's Naira Rate [07-05-2024]: Naira Slips to N1,415/$ in Parallel Market Amid Economic Uncertainties
Amid economic uncertainties, the Nigerian Naira has depreciated to N1,415 per dollar in the parallel market, while in the Nigerian Foreign Exchange Market (NAFEM), it stands at N1,416.57. This decline reflects ongoing challenges in the economy, impacting exchange rate stability and financial...- Nigeria News
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- 1 min read
- currency trends foreign exchange market naira depreciation nigerian economy parallel market todays exchange rate
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![Today's Naira Rate [05-05-2024]: Naira Weakens to 1,430 Against USD as Demand for Foreign Currency Skyrockets](/data/attachments/203/203661-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [05-05-2024]: Naira Weakens to 1,430 Against USD as Demand for Foreign Currency Skyrockets
Amidst rising demand for foreign currency, the Nigerian Naira depreciates to 1,430 against the US dollar on the parallel market, signifying a 5.49% decline. Factors driving this include increased demand for travel and education. Analysts anticipate stability within the current band. Explore the...- Nigeria News
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- 1 min read
- currency depreciation foreign exchange market nigerian naira parallel market usd to ngn
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![Today's Naira Rate [04-05-2024]:Naira Holds Steady at 1,380 Against Dollar Amid Currency Market Turmoil](/data/attachments/203/203601-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [04-05-2024]:Naira Holds Steady at 1,380 Against Dollar Amid Currency Market Turmoil
Amidst mounting demand and scarcity, the naira holds firm at N1380/$1 in Nigeria's parallel market. Traders report high demand driven by individuals and importers, maintaining a flat rate amidst fluctuating currency values. Concerns rise over the impact of dollar shortages on the country's...- Nigeria News
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- 1 min read
- currency trading dollar scarcity naira exchange rate nigerian economy parallel market
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Nigeria Naira Appreciates by 8.57% Against Dollar, Hits N1280/$1 at Parallel Market
Amidst fluctuations in Nigeria's foreign exchange market, the Naira has displayed a remarkable recovery against the US dollar, appreciating to N1280/$1 in the parallel market. This surge, representing an 8.57% gain from the previous day's N1,400, has left currency traders cautiously optimistic...- Nigeria News
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- 1 min read
- currency trading forex market naira exchange rate parallel market usd to ngn
- Category: Business
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Nigeria Nigeria Customs Service: Cargo Clearance FX Rate Plunges Below Market Prices
Recent updates from the Nigeria Customs Service (NCS) reveal a surprising development in the foreign exchange market, as the exchange rate for cargo clearance has dropped to N1,164.84/$, falling below both official and parallel market rates. This significant shift, reported by Nairametrics...- Nigeria News
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- 2 min read
- cargo clearance foreign exchange market fx rate naira depreciation nigeria customs service official market parallel market
- Category: Business
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![Today's Naira Rate [27-04-2024]: Nigeria's Naira Bounces Back Strong, Hits 1,280 Against Dollar](/data/attachments/203/203376-fac0fa1defd2c5f3b205505ee482c7dc.jpg?hash=-sD6He_Sxf)
Nigeria Today's Naira Rate [27-04-2024]: Nigeria's Naira Bounces Back Strong, Hits 1,280 Against Dollar
The Nigerian Naira experienced a significant rebound in the parallel market, appreciating to 1,280 Naira per US dollar. This unexpected surge marked a notable recovery for the currency, which had faced recent depreciation challenges. The rebound comes amidst ongoing fluctuations in the foreign...- Nigeria News
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- 1 min read
- exchange rate naira parallel market
- Category: Business
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Nigeria Naira Loses Ground: Exchange Rate Dips to N1,300.15 Against US Dollar
Amidst ongoing economic uncertainties, the Nigerian Naira witnessed another downturn on Tuesday, depreciating at the official market to trade at N1,300.15 against the US dollar. Data sourced from the official trading platform of the FMDQ Exchange, responsible for overseeing the Nigerian...- Nigeria News
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- 1 min read
- exchange rate foreign exchange market nigerian naira official market parallel market
- Category: Business
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![Today's Naira Rate [22-04-2024]: Naira Slumps Further, Trades at N1,260/$ at Parallel Market](/data/attachments/203/203165-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria Today's Naira Rate [22-04-2024]: Naira Slumps Further, Trades at N1,260/$ at Parallel Market
The Nigerian Naira faced further devaluation on Wednesday, reaching a record low of N1,260 against the US dollar in the parallel foreign exchange market. This marks a significant 2.44 percent decline from the N1,230 exchange rate recorded just days prior on April 19. At the official window...- Nigeria News
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- 1 min read
- exchange rate forex market nigerian naira parallel market
- Category: Business
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