Naira extends significant appreciation against US dollar
The Naira continued its rally against the US dollar at the official foreign exchange market on Monday. Data from the Central Bank of Nigeria showed the naira strengthened to N1,357.77 per dollar, up from N1,366.23 on Friday. This represents a gain of N8.46 against the dollar at the official rate. Meanwhile, the black market showed […]
Naira records highest single-day depreciation against US dollar
The Nigerian Naira fell sharply against the US dollar on Monday, marking its largest single-day depreciation this year. At the official exchange rate, the currency dropped to N1,378.03 per dollar, down from N1,363.39 on Friday. In the black market, the Naira also weakened, closing at N1,380 per dollar, down N5 from last week, narrowing the […]
Naira records mixed sentiments against US dollar across official, black markets
The Nigerian Naira recorded mixed trends against the US dollar on Wednesday, with fluctuations observed across both official and parallel markets. While some windows showed slight gains, others experienced minor declines, reflecting market uncertainty. At the official interbank rate, the Naira remained relatively stable, trading within narrow margins, while the black market exhibited higher volatility […]
Nigerian naira continues depreciation against US dollar
The Nigerian naira continued its downward movement against the United States dollar at the official foreign exchange market on Thursday, reflecting ongoing pressure on the local currency. Data from the Central Bank of Nigeria (CBN) showed that the naira weakened slightly compared to the previous trading day. According to the CBN figures, the naira exchanged […]
Naira records highest depreciation against US dollar
The Nigerian Naira continued its downward slide on Wednesday, marking its sharpest depreciation of the week against the United States dollar. According to official figures from the Central Bank of Nigeria (CBN), the Naira fell to ₦1,473.29 per dollar, compared to ₦1,463.23 on Tuesday — a daily loss of ₦10.06. This decline represents the largest […]
Naira records second straight depreciation against US dollar
The Nigerian Naira continued its slide against the US dollar on Thursday, marking the second day in a row of depreciation in the official foreign exchange market. According to figures from the Central Bank of Nigeria (CBN), the Naira closed at ₦1,498.98 per dollar, weaker than Wednesday’s rate of ₦1,494.03. This represents a daily drop […]
Naira records three consecutive depreciations against US dollar
The Naira on Wednesday recorded its third straight loss against the United States dollar at the official foreign exchange market, even though Nigeria’s external reserves have risen to $41 billion. Data from the Central Bank of Nigeria showed that the Naira closed at ₦1,536.73 per dollar, weaker than the ₦1,534.93 rate recorded on Tuesday. This […]
Naira slumps against dollar at Black market after CBN retains interest rate
The naira has dropped again in the black market, falling against the dollar after the Central Bank of Nigeria (CBN) decided not to change the interest rate. A currency dealer in Wuse Zone 4, Abubakar Alhasan, said on Tuesday that the naira was exchanged at N1628 per dollar. This is lower than Monday’s rate of […]
Naira continues appreciation at official foreign exchange market
Nigeria’s currency, the naira, showed a mixed performance on Tuesday as it continued to strengthen in the official foreign exchange market but fell slightly in the black market. According to data from the Central Bank of Nigeria (CBN), the naira appreciated slightly at the official rate, moving from N1,600.44 per dollar on Monday to N1,600.030 […]
Naira continues depreciation against dollar across official, black FX markets
The Naira’s struggle against the dollar continues, with its value dropping on Thursday in both the official and black market exchange rates. According to the latest data from the Central Bank of Nigeria (CBN), the official exchange rate saw the Naira fall further to N1609.64 per dollar, compared to N1,608.60 the day before. This means […]