The Naira, yesterday, depreciated by 62 kobo to ₦362.40 in the Investors and Exporters (I&E) window as the volume of dollar traded increased by $90.01 million (89 percent). Data from FMDQ showed that the indicative exchange rate for the window rose to ₦362.40 per dollar yesterday from ₦361.78 per dollar on Monday, indicating 62 kobo […]
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The Naira, yesterday, depreciated by 70 kobo to₦358.7 per dollar in the parallel market even as the Central Bank of Nigeria (CBN) injected $210 million into the inter-bank forex market. The apex bank offered $100million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got the […]
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The Naira on Friday firmed up against the dollar at the parallel market, gaining 20 kobo to exchange at ₦359 to the dollar, the News Agency of Nigeria (NAN) reports. The Nigerian currency traded at ₦359.20 at the market on Thursday, while the Pound Sterling and the Euro closed at ₦485 and ₦417, respectively. Trading […]
Read More As the foreign exchange (forex) rates gradually converge at ₦360/$, the Central Bank of Nigeria (CBN) has assured Nigerians that the country would never go back to the era of ₦500/$ again. Its Deputy Governor in charge of Financial System Stability, Dr. Joseph Nnanna, gave the assurance Saturday in Lagos after he was conferred with […]
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The Central Bank of Nigeria (CBN), gave the Naira a further lift against other major currencies yesterday with its injection of another $250million into various segments of the inter-bank foreign exchange market on Tuesday just as the naira appreciated against the dollar, trading at ₦364 to $1 at the parallel market. Figures obtained from the […]
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The naira is forecast to trade in a narrow range in the coming days, and is expected to get support due to dollar inflows from the Central Bank of Nigeria and offshore investors. The local currency was quoted at ₦364/dollar on the black market on Friday, slightly firmer than 368 last Friday. At the official […]
Read More The naira weakened to 382 per United States dollar on Friday, down from ₦379/dollar it closed on Thursday. On the back of sustained dollar injection by the Central Bank of Nigeria, the local currency had rebounded to 380/dollar on Wednesday after closing at ₦381/dollar on Monday and Tuesday. The central bank has continued to supply […]
Read More The naira closed flat at ₦386 against the United States dollar on the parallel market on Monday, the same rate it closed on Friday. This was despite a $457.3m injection into various segments of the forex market by the Central Bank of Nigeria on Monday. The central bank has continued to supply into the foreign […]
Read More The Central Bank of Nigeria on Friday said it would offer dollar forwards to offset a backlog of foreign exchange obligations for manufacturers, airlines and fuel importers. The dollars will be sold directly to companies and are strictly for matured letters of credit obligations related to specific sectors, Reuters reported. “Authorised dealers ’ accounts with […]
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When President Donald Trump this year said the dollar might be “too strong,” he added a new twist to how the U.S. government talks about its currency. Going back to the 1990s, U.S. officials have repeated that the U.S. believed in a “strong dollar,” a mantra meant to avoid roiling currency markets. How to handle […]
Read More The Naira on Tuesday sustained its gain against the dollar at the FOREX market, the News Agency of Nigeria (NAN) reports. The Nigerian currency exchanged at N455 (Buying rate), N457 (selling rate) at the parallel market, from the N455/460 it traded on Monday, while the Pound Sterling and the Euro closed at N547 and N480, […]
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