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Tag: Naira
Naira strengthens by 7.43% to N1750 against dollar at the black market
The Nigerian naira depreciated to N1675.49 and N1750 against the dollar at the official and parallel foreign exchange markets respectively at the close of trading on Thursday, October 1. The…
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Naira among worst performing currencies in Africa – World Bank
The naira has been listed among the worst-performing currencies in Sub-Saharan Africa in 2024. This is according to the latest edition of Africa’s Pulse, a new report by the World…
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USD/NGN exchange rate appreciates massively
The Naira appreciated massively against the dollar upon resumption of trading at the official market on Monday. FMDQ data showed that the Naira appreciated to N1500.32 to the dollar on…
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Naira may settle at 1450/$ by Dec, says Fitch Ratings
International credit rating agency, Fitch Ratings has projected that the Nigerian currency, the naira, will end the year at 1,450 to the United States of American dollar. This…
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Nigeria Goverment to remove Naira from P2P trading platforms
The President Bola Tinubu-led federal government has declared that it will take the naira off of all peer-to-peer (P2P) exchanges. During a virtual conference with blockchain stakeholders on Monday, Emomotimi…
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Naira tumbles to N1,234/$ at official market, speculators resume hoarding
The naira depreciated in its value against the United States dollar to N1,234 at the official foreign exchange market on Monday, according to data obtained from the FMDQ securities exchange.…
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Excitement As Nigeria’s Naira Sustains Rally at parallel market
The Nigerian naira has strengthened further across the foreign exchange (forex) markets amid expectations that the national currency will continue to gain weight in the period ahead. At the Nigerian…
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NBS Report: Naira Crash Pushes Raw Material Imports To N3trn
Imports of raw materials into the country rose by 25 per cent to N3tn in 2023 and this is according to the Foreign Trade Statistics data published by the National…
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Naira sells below 1,280/$ at official, parallel markets
The naira began the new month on a bullish note, appreciating to N1,278.58 against the United States dollar from N1,309.39 per dollar recorded last week Thursday. This indicates an increase…
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Economists : Why Price Of Food Won’t Drop Immediately Despite Naira Appreciation
Economists have stated that it will take some time for Nigerians to feel the impact of the current strengthening of the naira against the dollar on the prices of commodities…
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