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...
As of today, the exchange rates for the Nigerian Naira (NGN) are as follows:
💵 1 USD ⇛ ₦1,402
💷 1 GBP ⇛ ₦1,660
💶 1 EUR ⇛ ₦1,445
💶 1 CAD ⇛ ₦970
The performance of the Naira in the foreign exchange market remains a point of concern for many Nigerians. With fluctuations in the exchange rates...
The Nigerian Naira faced significant depreciation, falling to N1,400 against the US dollar on the black market, fueled by intensified demand pressure in the foreign exchange (FX) market.
This represents a 19.64 percent loss in just two weeks compared to the rate of N1,125 per dollar recorded...
The Nigerian currency, the Naira, appears to be facing another depreciation period, as observed by some social media users. Concerns about the stability of the currency are expressed, with one user noting a decrease and another lamenting the continual rise.
One user highlights a sense of...
Despite a fluctuating economic landscape, the Nigerian naira exhibited resilience against the US dollar in the black market, maintaining its value while experiencing a slight decline in the official market. Late Thursday, the naira strengthened to N1,060 per dollar in the parallel market...
Amidst a three-day holiday break, the Nigerian naira maintained stability, with the dollar trading at N1,125 on Friday, consistent with Thursday's rate of N1,120. However, due to reduced trading activity during the festive period, irregularities in market rates were observed. Transactions were...
In a concerning economic development, the Naira witnessed a significant depreciation to N1,250 per dollar in the parallel market, marking a notable drop from N1,240 per dollar over the weekend.
Concurrently, the Nigerian Foreign Exchange Market (NAFEM) recorded a similar trend as the naira...
In a historic development on December 8th, 2023, the Nigerian Naira experienced an alarming depreciation, closing at an all-time low of N1,099.05 per dollar in the official market. This 23.29% drop in value, compared to the previous closing rate, raises significant concerns just weeks before...
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