Tag: Dollar to Naira

CBN Tightens BDC Forex Rules, Launches Digital Tracker to Monitor Dollar Purchases

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CBN Tightens BDC Forex Rules, Launches Digital Tracker to Monitor Dollar Purchases

The Central Bank of Nigeria (CBN) has introduced a new set of operational guidelines for Bureau De Change (BDC) operators, unveiling a centralized electronic platform that will monitor foreign exchange purchases in real time as part of efforts to strengthen transparency and compliance in the retail foreign exchange market. The new framework, contained in a…

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Exchange and Forex, Finance and Economy

Naira Falls To N1,635/$ In Official Market

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Naira Falls To N1,635/$ In Official Market

The Naira depreciated to N1,635.15 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,635.15 per dollar from N1,631.21 per dollar last Friday, indicating N3.94 depreciation for the naira. However, the Naira yesterday rose to N1,660 per dollar in the parallel…

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Exchange and Forex

Naira Falls To N1,575/$ IIn Parallel Market

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Naira Falls To N1,575/$ IIn Parallel Market

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,…

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Exchange and Forex

FOREX: Naira Depreciates To N1,505/$ In Parallel Market

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FOREX: Naira Depreciates To N1,505/$ In Parallel Market

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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Exchange and Forex