Nigeria’s currency, the Naira, recorded a slight appreciation against the US dollar on Wednesday across both the parallel market and the Nigerian Foreign Exchange Market (NFEM). In the parallel market, the Naira strengthened to N1,380 per dollar, improving from N1,382/$ recorded on Tuesday. Similarly, in the official market, the Naira appreciated to N1,361 per dollar. Data released by the…
The Nigerian currency strengthened on Friday, closing at ₦1,363.5 per dollar at the official foreign exchange market after recovering from an earlier decline during the week. Data from the Central Bank of Nigeria (CBN) showed the Nigerian Naira had fallen sharply to ₦1,425 per dollar on Monday, compared with ₦1,398 per dollar recorded the previous Friday. The drop represented the currency’s weakest closing level since January…
The Nigerian currency, the Nigerian Naira, appreciated at the official market on Wednesday, trading at ₦1,376.19 against the United States Dollar, according to figures released by the Central Bank of Nigeria (CBN). Data published on the apex bank’s website showed that the naira gained ₦25.20 at the Nigerian Autonomous Foreign Exchange Market (NAFEM). The increase represents a 1.8 percent appreciation compared…
The naira weakened in the parallel market yesterday, sliding to ₦1,380 per dollar from ₦1,376 the previous day. In contrast, the currency recorded its first appreciation in over two weeks at the Nigerian Foreign Exchange Market (NFEM), closing at ₦1,382.65 per dollar compared to ₦1,390 on Tuesday. Data from the Central Bank of Nigeria (CBN)…
The naira appreciated to N1,560/ in the parallel market on Monday, up from N1,565/ last Friday. However, in the Nigerian Foreign Exchange Market (NFEM), it depreciated slightly to N1,538.4/, compared to N1,534.9/$ last weekend — a drop of N3.5. As a result, the gap between the official and parallel market rates narrowed to N21.6, down…
The Naira wrapped up the trading week with a modest gain of 4.52 kobo against the U.S. dollar at the official market on Friday, according to the latest data from the Central Bank of Nigeria (CBN). It closed at N1,534.72 per dollar, slightly up from N1,534.79 on Thursday—reflecting a 0.05% improvement. Earlier in the week,…
The naira closed last week weaker against the US dollar at the official Nigerian Foreign Exchange Market, falling by 0.14. This came despite an initial rebound to a four-month high of ₦1,518.88/on the week’s first trading day. The currency later fluctuated, trading as low as ₦1,530.25/ and ₦1,533.11/before slightly recovering. The highest exchange recorded during…
On Friday, the Naira strengthened slightly in the parallel market, closing at ₦1,550 per dollar, a ₦5 improvement from ₦1,555 recorded the previous day. In contrast, the currency edged down by ₦1 in the Nigerian Foreign Exchange Market, slipping to ₦1,532/$ from the previous rate of ₦1,531, according to the Central Bank of Nigeria. This…
The naira appreciated by 0.16 percent to 1530.52/$ from 1532.93/$ in the previous trading session on the Nigerian Foreign Exchange Market at the close of trading on Wednesday. Data from the Central Bank of Nigeria showed that the naira traded at a high of 1545/$ and a low of 1500/$, which was lower than Tuesday’s…
The naira strengthened to 1,494.03/$ at the official window on Thursday according to data from FMDQ Securities Exchange Limited. Similarly, it appreciated at the parallel market to 1,510.00/$, further reducing the spread between the markets to 15.5/$. The gap between the official foreign exchange and the parallel market rates is closing, following the various policies…
