naira

It seems the efforts of the Federal Government and the Central Bank of Nigeria (CBN) to strengthen the naira might not yield the desired result after all if the latest report coming out from the Economist Intelligence Unit (EIU) is anything to go by. EIU, in its new country report for Nigeria, has predicted that Nigeria’s official exchange rate is …

The naira seems not to be responding to the antidote administered to it by the Federal Government as the Nigerian currency continued its slump on Thursday against the American Dollar at both the parallel and official windows. While the Nigerian currency traded at about N1150/$1 on Thursday as against the N1130-1140/$1 it traded on Wednesday at the Bureaux De Change …

The naira exchanged at N775.34 to a dollar at the Investors and Exporters window on Tuesday. The Nigerian currency lost by 0.42 percent compared to the N772.12 it traded for the dollar on Monday. The open indicative rate closed at N769.66 to the dollar on Tuesday. READ ALSO: There’s no provision for floating the naira, it’s illegal, Falana slams CBN …

Some sentiments driven by the federal government’s recent plans to shore up dollar liquidity in the foreign exchange (FX) market have seen the naira strengthened to N900/$1 on Monday, November 6, 2023. Data collated from several sources at the parallel market indicated that the greenback has slumped to N900/$1 compared to N950/$1 it traded on Friday. This sentiment is reportedly …

The naira appreciated against the dollar at the official market but steadied at N1,170 on the parallel market relieving the pressure on the foreign exchange (FX) market. The black market exchange rate remained the same on Wednesday after gaining 2.5 per cent (N30) over the US dollars on Monday. Meanwhile, multinational financial services firm, JPMorgan Chase & Co expects Naira …

The naira exchanged at N771.69 for a dollar at the Investors and Exporters window on Thursday. The Nigerian currency rebounded by 0.22 percent compared to the N773.42 it traded for the dollar on Wednesday. The open indicative rate closed at N777.82 to the dollar on Thursday. READ ALSO: Naira depreciates, closes N773/$ at I&E window A spot exchange rate of …

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, …