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Nigeria Nigerian Naira Shows Resilience, Rises to N1,120 Against Dollar in Par
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... -
Nigeria Currency Traders Cheer as Naira Strengthens to N1,250 Per Dollar
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... -
Nigeria Nigeria's Naira Jumps to N1,280/$ at Parallel Market: Traders React
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... -
Nigeria Currency Strengthens: Naira Hits N1400/$1 in Parallel Market as Demand Slows
In the parallel market, operators are quoting a buy price of N1400/$1 for individuals selling dollars, marking a notable strengthening of the naira. Recent checks by Nairametrics reveal that the exchange rate has been on the rise as speculators begin offloading their stockpiles of dollars due to... -
Nigeria Central Bank Faces Criticism as Naira Loses Ground, Now at N1,620/$
In a concerning economic development, the Naira faced a 1.25 percent depreciation against the US Dollar, reaching N1,620/$ at the parallel market on Monday. This marks a N20 decline from its trading rate of N1,600 on March 1, 2024. Bureau de Change (BDC) operators in Lagos quoted buying rates at... -
Nigeria Naira Drops to N1,250/$ in Parallel Market, Raising Economic Concerns
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... -
Nigeria Nigerian Exchange Rate Opens at N1,210/$1 Amidst Supply Constraints
The exchange rate between the Nigerian naira and the United States dollar opened the trading week with a lot of chatter in the financial circles. As Nairametrics reported, the rate began at N1,200/$1 on peer-to-peer (P2P) platforms, setting the tone for an eventful week. However, as noon... -
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Business Naira Crashes to 470 Per Dollar At Parallel Market
The Nigerian naira on Thursday midday trading crashed to 470 per dollar at the parallel market as liquidity issue persists in the forex market. The currency declined by 3 points from N467 overnight market to N470 on Thursday afternoon. It remained steady at the inter-bank market, exchanging...- ProfRem
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- naira to dollar rate naira watch nigerian naira nigerianbulletin parallel market
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Business Naira Watch: Tracking Nigeria's Currency [Day 48]
The naira on Monday depreciated slightly to close at 314.75 to the dollar at the inter-bank market, forty -eight days after the Central bank of Nigeria introduced the flexible exchange rate policy, according to data compiled by Bloomberg. The currency on Friday closed at 314.25 to the dollar...- ProfRem
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- bloomberg dollar exchange rate naira watch nigerian naira parallel market tracking nigeria's currency
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Business Nigerian Naira Weakens Slightly Against Dollar At Parallel Market
The Naira on Monday weakened slightly against the dollar at the parallel market, the News Agency of Nigeria (NAN), reports. The Nigerian currency shed 1 point to trade at N353 by midday, from N352 it traded on Friday. However, the Naira hedged against the Pound Sterling and the Euro as it...- ProfRem
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- naija news naira nigerian naira parallel market
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Business Naira Firms Against Dollar at Parallel Market
Nigeria naira firmed to 340/$ from 365 to the dollar on the parallel market on Friday, after the Central Bank introduced reforms designed to relaunch inter-bank currency trading and attract foreign investors. The naira gains ahead of currency floating on official market from Monday, Aminu...- ProfRem
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- foreign exchange naira nigerian currency parallel market
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Business Naira Weakens Against Dollar At Parallel Market
The naira weakened further against the dollar at the parallel market on Monday, exchanging at N357 for a dollar as against N350 it traded on Friday. But maintained stability with the pounds sterling and euro, trading at N505 and N397 to each of them, respectively. Meanwhile, pending the...- ProfRem
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- dolalr naira naira exchange rate nigerian currency parallel market
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Business Nigeria: Amid Fuel Price Hike, Naira Drops by Record 11% Against US Dollar
Nigerian Naira 3-month non-deliverable forwards weaken by record 11%; Selling at 324 to a dollar on the black market spot, few days into the announcement of the end to Fuel Subsidy regime in the country by President Muhammadu Buhari led administration. See break down of Naira rates, according...- ProfRem
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- exchange rate nigeria naira parallel market
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Business Nigeria - 02/5/16: Today's Naira Rate Against Dollars, Pound And Euro
See Today's (02/05/2016) See exchange rate of the Nigerian Naira against the Dollar, Pounds and Euros at both official and parallel market Source: Guardian Newspaper- ProfRem
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- dollar exchnage rate parallel market
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Business Naira Maintains Rate Against Dollar At Parallel Market
The Naira on Monday exchanged at N320 to a Dollar at the parallel market in Lagos State. The News Agency of Nigeria (NAN) reports that the value of the Naira on Monday afternoon remained the same as its rate at the weekend. However, it traded against the Pound Sterling and the Euro at N450 and...- ProfRem
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- cbn exchange rate nan parallel market
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Business Naira Gains Value Against Dollar
There are strong indications that the efforts of the Central Bank of Nigeria (CBN) to stabilise the naira may have started yielding the expected results. The CBN governor, Godwin Emefiele, last week accused speculators who connived with bureau de change operators to undermine the efforts of the...- ProfRem
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- dollar naira appreciates parallel market
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Business Naira Depreciates Against Dollar At Black Market
The naira at the parallel market was reversed as the currency depreciated to N355 per dollar in the market. According to investigation conducted by Vanguard, the parallel market exchange rate rose sharply from N305 per dollar on Tuesday to close in Lagos and Abuja at N355 per dollar, implying...- ProfRem
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- dollar exchange rate parallel market
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