Asia Stocks Steady Amid Oil Price Surge and Geopolitical Tensions
Asian stock markets showed resilience on Monday despite heightened geopolitical uncertainty driven by ongoing tensions between Israel and Iran. Investors…
Category: Currency
Naira Sees Massive Recovery Amid New Forex System
The Nigerian Naira has experienced significant appreciation across all foreign exchange markets following the implementation of the Central Bank of…
CBN Says Currency In Circulation Now N4.1trillion With Only 6% In Banks
Data from the Central Bank of Nigeria (CBN) reveals that the total currency in circulation has reached an all-time high…
Naira gains N116.84 on increased dollar supply
The Nigerian naira appreciated by 7.59% against the U.S. dollar on Wednesday, closing at N1,539.65 in the Nigerian Autonomous Foreign…
Naira falls to N1,656 at I&E Window amid volatility, but hope for recovery grows as U.S Fed decision looms
The naira weakened to N1,656.49 per dollar at the official exchange window on September 17, 2024, marking a 7.12% drop…
Naira weakens to N1637/$
The Nigerian naira continued to decline against the US dollar, closing at N1637.59 at the end of trading on Tuesday.…
Nigeria’s exchange rate weakens to N1,625.88/$1, worst in six months
On August 4, 2024, the naira fell to a six-month low of N1,625.88 per dollar in the official NAFEM market,…
BREAKING: Currency outside bank drops to N3.66 trillion in July, biggest fall in 2024
In July 2024, the amount of currency outside Nigeria’s banking system decreased to N3.66 trillion, marking a 3.32% drop from…
Naira sends mixed signals as Dollar shows some strength
On Thursday, the naira showed mixed performance against the dollar in Nigerian FX markets. It improved slightly to N1,543/$1 from…
CBN unveils new exchange rates for pound, euro as naira settles at N1,579.22/$1
The Central Bank of Nigeria (CBN) announced revised foreign exchange rates, showing slight declines in the naira’s value against major…
Naira rises to N1,580/$ in parallel market
The Naira gained value in the parallel market, reaching N1,580 per dollar, up from N1,585 per dollar last weekend. It…
Naira gains further at official market
The naira strengthened against the dollar at both official and foreign exchange markets following the Central Bank of Nigeria’s (CBN)…
Naira strengthens to 1596 as CBN sells most dollars under Cardoso
On August 7, 2024, the naira gained slightly in official trading due to a $876.26 million sale by the Central…
CBN steps in to save naira with retail dollar auction
The Central Bank of Nigeria (CBN) is holding a retail dollar auction today in an effort to stabilize the naira,…
Naira depreciates to N1,600/$ in parallel market
On Monday, the Naira weakened in the parallel market, falling to N1,600 per dollar from N1,590 last weekend. In contrast,…
Naira Depreciates Further, Exceeds N1,600 to a Dollar
The naira has fallen to over N1,600 per US dollar at the official rate, with the dollar closing at N1,608.73…
Naira Depreciates To N1,610/$ In Parallel Market
The Nigerian Naira experienced a significant depreciation on Friday, dropping to N1,610 per dollar in the parallel market, down from…
Naira’s stability pinned on sustained dollar sales by CBN
Analysts predict that the stability of Nigeria’s currency, the naira, will hinge on the Central Bank of Nigeria (CBN) sustaining…
Naira tumbles above the N2,000 mark against British pound
The Nigerian naira faced downward pressure as it started Thursday’s session with a weakening trend against the British pound sterling,…
Exchange rate gap closes as dollar trades at N1,520.24 at official market
On Thursday, the naira/dollar exchange rate reached N1,520 in both the official and parallel markets. This rare convergence reflects the…
Naira Depreciates by 0.71% Against Dollar
On Tuesday, the naira faced renewed pressure in the official foreign exchange market, depreciating by 0.71% against the dollar. The…
Naira sells 1,485/dollar as official forex market records $23bn
Forex turnover in Nigeria’s official market surged to $23.29 billion over six months, driven by Central Bank of Nigeria reforms.…
Naira remains calm across FX markets dollar sales rise by 94.46%
Nigeria’s naira remained relatively stable on Tuesday across both official and unofficial foreign exchange markets. Despite a significant rise (94.46%)…
Naira closes at N1,476.12 as dollar supply drops
The Nigerian Naira appreciated against the US dollar at the official foreign exchange market on Monday, even though there was…
Naira falls further as dollar sales drop by 30.05%
The Nigerian Naira continued its decline against the US Dollar on Thursday, losing over 10% of its value at the…
Naira appreciates to N1,375/$ in parallel market
Nigeria’s Naira showed mixed performance on Wednesday, appreciating slightly on the black market but depreciating against the dollar in the…
Naira Holds Steady Against Dollar Despite CBN Rate Hike
The Nigerian Naira remained stable against the dollar at the official foreign exchange market on Wednesday, even after the Central…
Naira Recovers to N1,459.02/$ After Week-long Depreciation
The naira made a remarkable recovery on Wednesday, bouncing back to N1,459.02 per dollar after experiencing depreciation for a week…
Naira Weakens to N1,520 Per Dollar in Parallel Market
The Naira weakened against the dollar, dropping to N1,520 per dollar in the parallel market, down from N1,470 per dollar…
Naira Depreciates by 4.60% at Official Market, Trades at N1,416.57 to Dollar
The Nigerian naira experienced depreciation at the official market, with the exchange rate reaching N1,416.57 to the dollar. Data from…