Tag: Nigeria forex market

Naira Strengthens to ₦1,348/$ at Official FX Market Amid Liquidity Boost

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Naira Strengthens to ₦1,348/$ at Official FX Market Amid Liquidity Boost

Nigeria’s currency, the Nigerian naira, has appreciated to ₦1,348 against the United States dollar at the official foreign exchange market, marking one of its strongest positions in recent months. Data from the Nigerian Foreign Exchange Market (NFEM) shows that the local currency firmed up to this level, reflecting improved liquidity conditions and renewed investor confidence…

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Exchange and Forex

Naira Slides to N1,415/$ in Parallel Market as FX Liquidity Pressures Mount

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Naira Slides to N1,415/$ in Parallel Market as FX Liquidity Pressures Mount

The Nigerian naira has depreciated to approximately ₦1,415 per dollar at the parallel market, reflecting renewed pressure on the country’s foreign exchange environment amid persistent dollar scarcity and fluctuating liquidity conditions. Market data from key trading hubs, including Lagos and Abuja, show that the local currency weakened against the U.S. dollar during recent trading sessions,…

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Exchange and Forex