Tag: Naira Appreciates against dollar

Naira Appreciates As Banks Comply With CBN Directives To Offload Dollars Into FX Market

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Naira Appreciates As Banks Comply With CBN Directives To Offload Dollars Into FX Market

The free slide of the Naira occasioned by pressure on the foreign exchange (FX) market is beginning to ease as the naira recovered after commercial banks offloaded dollars into the official market in response to 24 hours given by the Central Bank of Nigeria (CBN). This became noticeable as the volume of dollar transactions by…

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Exchange and Forex

Forex Speculators In Big Losses As Naira Appreciates

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Forex Speculators In Big Losses As Naira Appreciates

The naira yesterday made a significant gain of N175 to dollar at the parallel market. The naira appreciation occurred about 24 hours after the Supreme Court judgment affirming President Bola Ahmed Tinubu’s victory at the 2023 Presidential elections. The local currency, which exchanged at N1,315 to the dollar at the parallel market on Thursday, closed…

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Finance and Economy