The Naira yesterday depreciated to N1,710 per dollar in the parallel market from N1,690 per dollar on Wednesday. Similarly, the Naira depreciated to N1,660.49 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,660.49 per dollar from N1,659.69 per dollar on Wednesday, indicating 80 kobo depreciation …

The value of the naira depreciated at the unofficial market on Wednesday as it traded at 1,705/dollar, according to Bureau De Change (BDC) operators in Lagos and Abuja. A BDC operator in Lagos, Aliyu Sani, told The PUNCH that he sold dollars for N1705, and bought at 1,695/$. In Abuja, the rate was lower at N1,700. A currency trader, Suraju …

The Naira has been listed among the worst-performing currencies in Sub-Saharan Africa in 2024. This is according to the latest edition of Africa’s Pulse, a new report by the World Bank. As of the end of August 2024, the Naira had depreciated by approximately 43 per cent year-to-date, making it one of the region’s weakest currencies alongside the Ethiopian birr …

The Naira today appreciated to N1,690 per dollar in the parallel market from N1,670 per dollar on Thursday. Similarly, the Naira depreciated to N1,641.27 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,641.27 per dollar from N1,622.57 per dollar on Thursday, indicating N18.7 depreciation for …

The Naira on Tuesday appreciated by N73.39 at the official market, trading at N1,561.76 to the dollar. Data from the official trading platform of the FMDQ Exchange revealed this. This represents a 4.48 per cent gain when compared to the previous trading date on Monday when it exchanged at N1,635.15 to a dollar. Also, the total daily turnover increased to …

The Governor, Central Bank of Nigeria, CBN, Mr Olayemi Cardoso, has said that the apex bank under him took the bold step of floating the Naira in the foreign exchange market in order to bring the official exchange rate closer to market reality. About three CBN Governors before Cardoso had toyed with the floatation option when they faced constant excess …

In a groundbreaking move, Nigeria has commenced the sale of crude oil and refined petroleum products in Naira In a statement on Saturday, the Director of Information and Public Relations in the Federal Ministry of Finance, Mr. Mohammed Manga said that the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun announced that, in line with the …

The Naira yesterday depreciated to N1,650 per dollar in the parallel market from N1,645 per dollar on Wednesday. Similarly, the Naira depreciated to N1,544.02 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,544.02 per dollar from N1,539.65 per dollar on Wednesday, indicating N4.37 depreciation for …

The Naira yesterday depreciated to N1,656.49 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,656.49 per dollar from N1,546.51 per dollar last week Friday, indicating N109.98 depreciation for the naira. Meanwhile, Naira appreciated to N1,640 per dollar from N1,660 per dollar last weekend. Consequently, the …

The Naira continued its downward trend on Friday, depreciating to N1,660 per dollar in the parallel market. This represents a slight decline from the N1,655 per dollar traded on Thursday. In a similar vein, the Naira depreciated to N1,546.41 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday. According to data from FMDQ, the indicative exchange rate …