foreign exchange market

The Nigerian Naira exhibited a remarkable appreciation against the United States Dollar on Monday, with significant gains observed in both the parallel market and the official foreign exchange (FX) window. This currency shift has drawn attention from investors, economists, and policymakers...

Amidst fluctuations in Nigeria's foreign exchange market, the Naira demonstrated a surprising appreciation, climbing to N1,260 per dollar in the parallel market from N1,270 per dollar just a day prior. Additionally, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira saw a...

Recent developments in Nigeria's foreign exchange landscape reveal a noteworthy surge in the customs exchange rate for import duties, exceeding the official market rate. The rate for cargo clearance currently stands at N1,330.36 per USD, significantly higher than the official market's N1,278/$1...

The Nigerian naira saw an appreciation to N1,250 per dollar in the parallel foreign exchange market on Monday, marking a 0.43 percent increase from the N1,280 recorded on March 29. Bureau de Change operators in Lagos quoted the buying rate of the dollar at N1,230 and the selling price at...

The Nigerian Naira witnessed a remarkable appreciation, reaching N1,280 per dollar at the parallel segment of the foreign exchange market. This surge, marking a 5.19 percent increase from the previous rate of N1,350/$ on March 27, has left currency traders in Lagos, commonly known as bureau de...

The Central Bank of Nigeria (CBN) has reported a substantial inflow of over $1.5 billion in recent days, signaling a positive outlook for the nation's monetary policy initiatives. The announcement, made by the Bank's Acting Director of the Corporate Communications Department, Hakama Ali...

Governor Alex Otti of Abia State has attributed the continuous depreciation of the naira to the excessive printing of money by the Federal Government, estimating the total printed money to be close to N30 trillion. In an interview on Channels Television's Politics Today, Otti expressed concern...

The Nigerian Naira continues its upward trend in the parallel foreign exchange (FX) market, reaching N1,500/$ on Wednesday. This remarkable 9.09% gain from the N1,650/$ recorded just two days earlier has caught the attention of currency traders, with bureau de change (BDC) operators quoting...

Amidst concerns over the Nigerian currency's volatility, the naira experienced a positive turn at the official forex window, strengthening by 1.09% to close at 1,419.86/$, following reassurances from the Central Bank of Nigeria Governor, Olayemi Cardoso. Last week saw the naira hitting an...

In a recent report titled "Africa's Pulse," the World Bank has highlighted the sharp depreciation of the Nigerian Naira as one of the key economic challenges facing the African region. According to the report, the Naira has weakened by nearly 40 percent against the US dollar since a mid-June...