Naira records first appreciation against US dollar
The Naira appreciated on Tuesday against the US Dollar at the official foreign exchange market for the first time in two working days. Data from the Central Bank of Nigeria showed it rose to N1,382.63 from N1,388.38 on Monday, marking a gain of N5.7 per dollar. This uptrend followed a N34.48 decline recorded on Monday, […]
Naira records two consecutive appreciations against US dollar
The Nigerian Naira has recorded two consecutive days of appreciation against the United States dollar, signaling renewed investor confidence in the local currency. Market analysts attribute the gain to increased dollar inflows from exports and improved liquidity in the foreign exchange market. Data from the Central Bank of Nigeria (CBN) showed that the Naira closed […]
Naira rises to ₦1,620/$ in Parallel market
The value of the naira fell to ₦1,620 for every US dollar in the parallel market at the close of business on Tuesday, June 3. This is a drop from ₦1,610 per dollar recorded the day before, on Monday. However, the naira gained a little strength in the official Nigerian Foreign Exchange Market (NFEM). It […]
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 stumbles to N1,548 per dollar
The naira continues to struggle as it dropped further against the dollar on Monday, January 13. At the official exchange market, new data from FMDQ revealed that the naira weakened to N1,548.89 per dollar. This is a drop of N5.86 compared to Friday’s closing rate of N1,543.03. The story was similar in the black market, […]