us dollar
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Nigeria Naira's Downward Spiral: Despite CBN Intervention, Dollar Reigns Supreme in Forex Market
Despite recent efforts by the Central Bank of Nigeria (CBN) to bolster the Naira's value through additional forex injections, the currency continues to struggle against the US Dollar. FMDQ data reveals a further depreciation of the Naira to N1308.52 per Dollar on Wednesday, down from N1,300.15... -
Nigeria Nigeria's Currency Crisis: Minister Edun Sounds Alarm Over Naira's Decline
Minister of Finance, Wale Edun, expressed profound concern over the populace's diminishing trust in the nation's currency, the Naira. Edun's remarks, delivered at a recent event in Lagos, underscored a troubling trend where Nigerians are increasingly opting to save in more stable foreign... -
Nigeria Statisense Report: Naira Plummets Among Top 15 Worst Currencies Against US Dollar
The Naira has been listed among the 15 worst-performing currencies against the US Dollar, according to Statisense by References1. The report, dated March 18, 2024, highlights the year-on-year loss against the USD for various currencies. Lebanon tops the list with a staggering -497%, followed by... -
Nigeria Businesses on Edge as Naira Hits Record Low of N1,482.57 per $1, Fueling Economic Uncertainty
The Nigerian Naira hit a historic low against the US dollar on Tuesday, causing concern in financial circles. Official figures reveal that the Naira closed at N1,482.57 per $1, showing a significant 10% drop from the previous day. The situation worsened in the unofficial market, where the... -
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Business Naira Gains 1% To 326.25 Per US Dollar
Naira advanced gain by 1% to 326.25 to the United States Dollar by 5:10pm in Lagos, strongest since Aug. 16 The currency 3-month on deliverable forwards also jumped +0.3% to 349 US Dollar Ghana Cedi weakened further by -0.5% to 3.97 o the US Dollar, lowest since Aug. 16 Meanwhile, the...- ProfRem
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Business Naira Declines 0.1% to 345 Per US Dollar
Nigerian naira declined 0.1% to 345 to the united States Dollar at the inter-bank market as at 10:55am in lagos, the commercial city of the country Naira 3-month non-deliverable forwards fell 1.3% to 355.95 to the US Dollar. Ghana Cedi, on the other hand weakened 0.2% to 3.96 to the US Dollar...- ProfRem
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Business Nigerian Naira Rises 0.5% to 281.30/US Dollar
The Nigerian Naira on Monday rose 0.5% to 281.30 against United States dollar in Lagos, commercial hub. The Naira to dollar 3 month non-deliverable forwards fell 0.1% to 289.50 against the US Dollar while yield on USD bond due July 2023 dropped by 6bps to 6.88%. Source: Bloomberg News- ProfRem
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