Naira depreciates to N1,415/$ in parallel market
The Naira experienced depreciation against the US Dollar in both the parallel and Nigerian Foreign Exchange Market (NAFEM) on Tuesday.…
Category: Currency
Naira closes 1,402/$ at official market as dollar demand persists
In the initial trading session of May at the NAFEM window, the Naira experienced a small decline, settling at N1,402.67…
Naira depreciates against Dollar, hits N1,234 at official market
The value of the Nigerian naira dropped against the United States dollar, reaching N1,234 at the official foreign exchange market…
Why dollar is battering euro, Japanese yen and Chinese yuan
The resurgence of the US dollar has caught global financial markets off guard in 2024, with the US dollar index…
Stable Naira appreciation expected to ease Inflation
Analysts predict that the recent stability in Nigeria’s foreign exchange market, along with the strengthening of the naira, will help…
We now buy dollars at N980, sell at N1020 – BDCs president
Aminu Gwadabe, the president of the Association of Bureaux De Change Operators of Nigeria, revealed that BDC operators are now…
Naira appreciates to N1,270 in parallel market
Today, Tuesday, the Naira showed signs of appreciation against the dollar in both the parallel market and the Nigerian Autonomous…
Naira recovery now tackle inflation — BDCs
The Association of Bureaux de Change Operators of Nigeria has highlighted the positive impact of the naira’s recovery on the…
Naira appreciates to N1,280 against Dollar on parallel market
The naira’s upward trajectory continues as the US dollar is currently trading at N1,280 on the parallel market, reflecting a…
Super-sized liquidity returns to Nigeria’s FX market as daily trades near $1bn
Nigeria’s foreign exchange market experienced its highest turnover in a single day since 2017 on Thursday, with a total of…
Naira strengthens as dollar supply increases at official market
Following the Central Bank of Nigeria’s (CBN) decision to raise key interest rates, the Naira has seen further improvement against…
Yen on intervention watch; Asia shares creep higher
The yen remained near its weakest levels in decades on Thursday, but the threat of intervention by Japanese authorities prevented…
Naira Strengthens To N1400/$ At Parallel Market
Parallel market operators are now quoting a buy price of N1400/$1 for individuals looking to sell dollars, indicating a significant…
Yen Strengthens Against Dollar Despite BOJ Policy Shift
The yen saw gains against the dollar on Monday amidst indications that the Bank of Japan (BOJ) may exit negative…
Egyptian pound stable after devaluation, IMF deal
Egypt’s currency remained stable at around 49.5 pounds to the dollar as the market opened on Thursday, following the central…
Naira Strengthens to N1,534.9/$1 on Third Consecutive Day
yThe exchange rate between the naira and the dollar continued its upward trend for the third consecutive day, closing at…
Foreign Exchange: Market Records $584m Increase
The official Nigeria Autonomous Foreign Exchange Market witnessed a substantial boost, reaching $584 million in foreign exchange transactions, as revealed…
Banks Rush to Sell Excess FX Holdings Ahead of CBN Deadline
Commercial banks in Nigeria were in a frenzy on Thursday as they worked tirelessly to offload their surplus foreign exchange…
CBN Orders Banks to Sell Excess Dollar Stock to Stabilise Exchange Rate
In a bid to stabilize Nigeria’s volatile exchange rate, the Central Bank of Nigeria (CBN) has directed Deposit Money Banks…
Dollar Gains Ground as Market Awaits U.S. Inflation Report
The U.S. dollar experienced a broad uptick on Monday, reflecting subdued risk appetite as investors awaited a crucial U.S. inflation…
NNPC and Marketers Clash Over Petrol Subsidy, PMA Proposes N1,200/Litre
Tensions have risen between the Nigerian National Petroleum Company Limited (NNPC) and fuel marketers, represented by the Independent Petroleum Marketers…
Canadian Dollar Weakens Against USD Amidst Robust Greenback and Investor Caution
The Canadian dollar, known as the “loonie,” has experienced a 0.5 percent decline against the US dollar, reaching its lowest…
Canadian Dollar Weakens Against US Dollar, Influenced by Robust USD Dominance
The Canadian dollar, also known as the “loonie,” has experienced a 0.5 percent decline against the US dollar, marking its…
Dollar Holds Near Six-Month Highs Amid Inflation Concerns and Fed Hawkishness
The dollar has stabilized near six-month highs, as ongoing signs of inflation in the United States continue to fuel concerns…