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The Naira depreciated on Tuesday as Dollar supply at the official foreign exchange market dropped by 18.26 percent to $201 million. FMDQ data showed that the turnover of willing buyers and sellers at the official FX market declined to $201 million from $246.44 million on Monday. This comes as the country’s external reserves also dropped…
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THE Naira yesterday appreciated to N1,580 per dollar in the parallel market from N1,585 per dollar last weekend. Similarly, the Naira yesterday appreciated to N1,570.99 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,570.99 per dollar from N1,574.2 per dollar…
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The naira maintained its appreciation against the dollar at the official foreign exchange market on Thursday. FMDQ data showed that the naira gained N2.9 at N1593.62 per dollar on Thursday from the N1596.52 exchanged on Wednesday. The naira also strengthened against the dollar on Thursday to trade at N1610 on the black market. This showed…
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The naira recorded a significant gain against the dollar in the foreign exchange market despite the ongoing hunger protests. FMDQ data showed that the currency appreciated to N1607.15 against the dollar on Monday from N1617.08 exchanged last Friday. This represents a N9.93 gain Meanwhile, in the black market, the naira remained flat, maintaining the same…
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The naira continued its decline against the dollar on the foreign exchange market on Monday. FMDQ data showed that the naira further weakened by N2.11 to N1,611.40 per dollar on Monday from N1,609.29 traded last Friday. Similarly, the naira-to-dollar exchange rate at the black market dropped by N5 to N1,600 on Monday from N1,595 traded…
Nigerian Naira yesterday depreciated to N1,603.8 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Sighted data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,603.8 per dollar from N1,586.71 per dollar on Wednesday, indicating N37.95 depreciation for the naira. The volume of dollars traded (turnover) in the market fell…
The Naira yesterday fell to N1,575 per dollar in the parallel market from N1,565 per dollar on Tuesday and also depreciated to N1,586.71 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,586.71 per dollar from N1,548.76 per dollar on Tuesday,…
The naira dipped against the Dollar in the foreign exchange markets even as the Central Bank of Nigeria increased interest rate. A Bureau De Change operator in Wuse Zone 4, Abuja, Dayyabu Ashiru told newsmen that the naira exchanged for N1,590 per dollar on Tuesday from N1,570 the previous day. “We buy at N1,580 per…
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The Naira against dollar appreciated on the black market but depreciated at the official foreign exchange window. Bureau De Change operators in Wuse Zone 4, Abuja, said the dollar is exchanged at N1,550 at the black market as against N1,565 on Thursday, recording an N15 gain. “We buy at N1,530 and sell at N1,530 on…
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The Central Bank of Nigeria said it sold foreign currency worth $20,000 to each eligible Bureau de Change operator at N1,450 per dollar. A.A. Mahdi, the apex bank’s acting Director of Trade and Exchange Department, disclosed this in a notice on Thursday. According to the notice: “To this end, the CBN has approved the sales…
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