In a notable turn of events, Nigeria’s currency market experienced a substantial inflow of $1.41 billion in June, as disclosed by the central bank on Thursday. This surge followed the dismantling of a multiple exchange rate framework that had been artificially propping up the naira’s strength. With the central bank’s June decision to remove foreign Read More…
The Nigerian Naira displayed a positive trend on Wednesday as it witnessed appreciation against the dollar, exchanging at N782.49 at the investors’ and exporters’ window. This marks a gain of 0.75 per cent compared to Tuesday’s exchange rate of N788.42. The open indicative rate, a reference point for currency exchange, closed at N775.75 to one Read More…
At the investors’ and exporters’ window on Thursday, the Naira lost value versus the dollar and traded for N461.67. The exchange rate reflected a drop of 0.04 per cent from the N461.50 it was traded for on Wednesday. On Thursday, the open indicative rate reached a high of N461.25 to the dollar. Before it finished Read More…
Naira exchanged at N461.67 at the Investors’ and Exporters’ window on Monday, a further decline against the dollar. The exchange rate indicated a decline of 0.04 percent from the N461.50 it was trading for at Friday’s close of business. On Monday, the open indicative rate was N461.50 to $1. Prior to settling at N461.67 during Read More…
Wednesday’s exchange rate for the naira against the dollar in the Investors and Exporters window was 461.25 naira per dollar. When compared to the value of 461.50 that it was traded for on Tuesday, this figure reflected an increase of 0.05 per cent in value. On Wednesday, the open indicative rate finished at a value Read More…
Tuesday’s Investors’ and Exporters’ window naira-dollar rate was 461.50. The value rose 0.04 per cent from Monday’s 461.67. Tuesday’s open indicative rate was N460.25/$. Before settling at N461.50, the day’s highest exchange rate was N462. During the day’s trade, the naira fell to 440 per dollar. Tuesday’s Investors’ and Exporters’ window trades totalled N117.63 million.
The Central Bank of Nigeria (CBN) on Friday, released the sum of $265 million to airlines operating in the country, to settle outstanding ticket sales in a bid to avoid brewing catastrophe in the country’s aviation sector. A breakdown of the figure indicates that the sum of $230 million was released as a special FX intervention Read More…
The Naira on Tuesday depreciated at the Investors and Exporters window, against the dollar, exchanging at N431. The figure represented a decrease of 0.90 per cent compared with the N427.17 it exchanged to the dollar on Monday. The open indicative rate closed at N427.30 to the dollar on Tuesday. An exchange rate of N444 to Read More…
ABUJA, Sept 27 (Reuters) – The Nigerian naira hit a record low of 573 against the dollar on the black market on Monday, shrugging off news of the country’s Eurobond sale, meant to boost its currency reserves, traders said, weighed by a recent clampdown on retail forex operators. The West African country sold $4 billion Read More…
Nigeria let the naira weaken to a record low against the dollar on the official market on Friday, according to traders, who said this could be a move by the central bank to unify multiple exchange rates. Having traded within a band of 380 and 381 to the dollar since July last year, the naira Read More…
