24hrs News & Updates
The FMDQ data today has shown that the naira depreciated to N1,577.29 against the dollar on Monday from N1,563.80 last Friday. This represents N13.49 depreciation against the dollar compared to the N1,563.80 traded on Friday. Meanwhile, at the parallel foreign exchange market, the naira maintained the same N1,560 per dollar rate traded on Friday. The…
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The naira has again depreciated against the dollar in the foreign exchange market despite the increase in Nigeria’s external reserves. FMDQ data showed that the naira depreciated to N1523.85 against the dollar on Monday from N1509.67 traded last Friday. This represents N14.18 loss against the dollar compared to the N1509.67 traded on Friday. Similarly, the…
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The Naira has continued to further slide against the dollar in the foreign exchange market despite the Central Bank of Nigeria’s interventions. FMDQ data showed that the Naira slightly depreciated to N1509.45 against the dollar on Tuesday from N1508.99 traded on Monday. This represents a marginally N0.46 loss compared to the N1508.99 per dollar it…
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The Naira yesterday depreciated in the parallel market to N1,505 per dollar from N1,495 per dollar last weekend. Similarly, the Naira depreciated to N1,490.2 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,490.2 per dollar from N1,485.53 per dollar last…
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The naira appreciated against the dollar at both official and parallel foreign exchange markets to begin the week on a good note. FMDQ data showed that the naira appreciated to N1,476.12 per dollar on Monday, a N9.87 gain compared to the N1485.99 recorded last Friday. Similarly, in the parallel market section, the naira appreciated to…
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The Economic and Financial Crimes Commission, EFCC, has warned embassies to desist from demanding foreign currency for goods and services in the country. The chairman of EFCC, Ola Olukoyede, gave the strong warning in a special memo addressed to the Minister of Foreign Affairs. In the memo dated May 5, 2024, the EFCC chair made…
Read More “Demanding Dollars For Consular Services Is Illegal, EFCC Tell Embassies” »
Yesterday, the Naira depreciated to N1,410 per dollar in the parallel market, from N1,395 per dollar last weekend. This was contrary to Naira’s appreciation in the Nigerian Foreign Exchange Market, NAFEM, to N1,354.21 per dollar. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,354.21per dollar from N1,400.4 per dollar last…
The naira depreciated yesterday to N1,395 per dollar in the parallel market from N1,365 per dollar on Thursday. However, the naira appreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,400.4 per dollar. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,400.4 per dollar from N1,402.67 per dollar on Thursday,…
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The naira has depreciated further against the United States dollar at the official market on Tuesday, closing at 1,300/$. This came as the Central Bank of Nigeria stepped up efforts to stem the tide, selling more dollars to Bureau De Change operators. The apex bank disclosed the dollar sale in a new circular referenced TEM/FEM/PUB/001/013…
Read More “Naira Depreciates To N1300 To Dollar, As CBN Moves To Inject $10,000 Into Market” »
The Naira has depreciated against the Dollar in the foreign exchange market for the first time since March 2024 amid the decline of FX reserves. FMDQ data showed that the Naira dropped after months of stability to N1,148.14 per Dollar on Tuesday from N1,136.04 on Monday. This represents N12 or 1 per cent depreciation compared…
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