naira

Nigeria’s naira has experienced a dramatic reversal of fortune, plummeting to the rank of worst-performing currency globally in the first half of 2024, according to a Bloomberg report on Friday.Read more This depreciation comes after a brief period of strengthening earlier this year, highlighting the challenges facing the Nigerian economy. Apart from the naira, the Egyptian pound and the Ghanaian …

The naira gained its first in more than 10 days against the US dollar on Friday. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed the Nigerian currency strengthened by N5 to trade at N1,505/$1 on the official market today. The currency was trading at N1,510/$1 on Thursday. The intra-day high and low recorded during the day were N1,540/$1 …

For the fourth consecutive day this week, the naira slumped against the United States dollar and further surpassed the N1,500 mark on Thursday. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency fell by N3 to trade at N1,510/$1 in the official market. This value is N3 higher than the N1, 507.83/$1 traded on Wednesday. …

For the third consecutive day this week, the naira slumped against the United States dollar to surpass the N1,500 mark. The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, earlier this week assured that the excessive volatility of the naira is now a thing of the past. However, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed …

Despite the recent depreciation of the Naira against the dollar, Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN) has expressed optimism that the excessive volatility of the naira may be behind us. He even revealed that the apex bank was “relatively happy” with the progress made in stabilizing the naira. Ripples Nigeria reports that the naira for the …

Naira traded at N1,500/$ on the official window on Tuesday. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) shows that the local currency fell by N10 and traded at N1, 500.79/$1 in today’s trade. The rate is lower than N1,490.21/$1 recorded on the official market on Monday. The intra-day high and low recorded during the day were N1,507/$1, and …

The Nigerian currency, the naira started the week on a weaker note as it weakened slightly against the American dollar on Monday, June 24, 2024. The domestic currency traded at N1,490.20/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed. At the end of trading on Monday, the naira lost N5 against the dollar following the value of N1,485.53/$1 …

The naira dipped slightly against the United States dollar on Friday. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the domestic currency traded at N1,485.53/$1 on Friday. At the end of trading today, the naira lost less than N1 against the dollar compared to N1,485.36/$1 recorded on Thursday. The intra-day high and low prices recorded during the …

The naira dipped slightly against the United States dollar on Thursday. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the domestic currency traded at N1,485.36/$1 on Thursday. This is N2 higher than the N1, 483.02/$1 traded on Wednesday. The intra-day high and low recorded during the day were N1,495/$1 and N1,434/$1 respectively, representing a very thin spread …

The Naira depreciated against the United States dollar on Friday and traded at N1, 476.24/$1. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the naira lost N6 against the dollar after trading at N1,482.72/$1 compared to N1,476.24/$1 recorded the previous day. The intra-day high and low recorded during the day were N1, 490/$1 and N1, 390/$1 respectively, …