naira

The naira recovered from its recent slump against the US dollar on Friday to close the week on a positive note. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed the local currency strengthened by N11 to trade at N1,509/$1 on the official exchange. The figure is lower than the N1,520/$1 the naira was trading at on Thursday. The …

The naira continued its depreciation against the US dollar on Thursday. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency fell by N8 to trade at N1,520/$1 on the official exchange today. This is higher than the N1,512/$1 it was trading at on Wednesday. The intraday high and low prices recorded during the day were …

The naira continued its depreciation against the US dollar on the official exchange on Wednesday. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) shows that the local currency fell by N3 to trade at N1,512/$1 today. This is higher than the N1,509/$1 traded on Tuesday. The intraday high and low prices recorded during the day were N1,535/$1 and N1,445/$1 …

The Naira lost N1 against the US dollar on the official exchange on Tuesday. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency was trading at N1,509/$1 on Tuesday compared to N1,508/$1 recorded the previous day. The intraday high and low prices recorded during the day were N1,521/$1 and N1,445/$1 respectively, indicating a slim spread …

Nigeria’s currency, the naira, started the week on a weaker note against the US dollar. The local currency lost N3 to trade at N1,508/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed. At the close of trading on Monday, July 1, 2024, the naira lost N3 against the dollar after the exchange rate of N1.505/$1 recorded on Friday, …

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 …