naira

The Nigerian naira, on Monday, again resumed its downward trend after recording marginal gains against the US dollar as it commenced trading at 1,180 per dollar on Monday from 1,150 per dollar on Friday at the parallel market. According to figures obtained from AbokiFx, the naira was bought and sold for 1,170 per dollar and 1,180 per dollar on Monday, …

The Naira exchanged for N773.42 to the dollar at the Investors and Exporters window on Wednesday. This indicated that the Nigerian currency depreciated by 0.35 percent compared with N770.72 to dollar recorded at the investors and exporters window on Tuesday. The open indicative rate closed at N781.49 to the dollar on Wednesday.READ ALSO: NNPC secures $3bn Afreximbank loan to strengthen …

The Nigeria Labour Congress (NLC), on Sunday, alleged that the love for foreign goods by government official is the major reason for the continous decline of the Nigerian currency, naira against the dollar and other major foreign currencies. While lamenting the devastating impact of the forex crisis on the economy, labour congress demanded urgent stabilisation of the naira. The NLC …

The dollar rate in the investors’ and exporters’ window of the official market closed down on Friday, as the value of the naira increased by 2.96 per cent, according to foreign exchange data obtained by FMDQ Exchange. According to the data, the price of the dollar was brought down by N23.09 to sell at N756.91/$1 at the close of trading, …

Despite the assurances by the Central Bank of Nigeria (CBN) that cash I circulation has hit N3.4tr and repeated statements by the apex bank on the availability of the domestic currency, checks by Ripples Nigeria has shown that the cash scarcity persists in most parts of Lagos and Ogun states. Visits to several Automated Teller Machines (ATMs) show machines that …

The Nigerian currency, naira continued its appreciation against the United States dollar on Wednesday as it ended at N850 per dollar at the close of trading. Ripples Nigeria had reported that the Nigerian currency appreciated on Tuesday, ending the day at N915 per dollar 24 hours after the Central Bank of Nigeria announced that it was intervening with some measures …

Following the massive gain of N234 recorded by the naira against the dollar on Monday, the Nigerian currency, Tuesday, December 12, 2023, slumped marginally against the American greenback. The Nigerian currency traded at N865.03/$1 at the close of business on Tuesday, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window where forex is officially traded, showed. This represents a …

The Nigerian currency, the naira continued its free fall on Thursday as it weakened in the parallel market closing at N1,175 per dollar. Ripples Nigeria reports that the naira had exchanged for N1,100 on Wednesday before falling further on Thursday to N1,175, showing a depreciation rate of 6.8 percent. Also at the parallel market, the British pound sterling exchanged for …

In a bid to arrest the free fall of the naira at the parallel market, also known as black market, the Central Bank of Nigeria {CBN}, on Monday, announced new measures aimed at curbing the activities of currency speculators. This was disclosed by the Acting Governor of the CBN, Folashodun Shonubi to State House correspondents at the Presidential Villa after briefing …

The Naira crossed the N1,000 mark to reach an all-time low of N1,099.05/$1 on Friday, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window has shown. This represents a significant 23.29% or N255.98 drop in valuation compared to its previous closing rate. The Nigerian currency had on Thursday rebounded to close at N843.07/$1 at the official market. However, the …