Browsing: FX

Naira Gains, Exchange Rates Gap Increases to N106 The naira exchange rate gained against the US dollar to settle at…

CBN Defends Nigerian Naira With $37m Sold to Banks The Central Bank of Nigeria (CBN) spent additional $37 million in…

Stanbic IBTC Bank has solidified its position as the leading Bank for capital importation in Nigeria, capturing an impressive 28.30% of total foreign capital inflows worth about $2 billion in the first nine months of 2024.

Naira Mixed as CBN Turns Aggressive with FX Interventions The naira exchange rates mixed across foreign exchange markets ahead of…

Naira Sinks, CBN Double Down Forex Market Interventions The naira lost against the US dollar in the Nigerian Foreign Exchange…

The naira exchange rate gained across the foreign exchange markets as a surplus FX position keeps demand pressures in check. According to data from the FMDQ platform, the naira spot rate appreciated by 0.18%, closing at N1,541.38 per US dollar in the official market. 

The naira traded on mixed note in the foreign exchange markets as data from FMDQ platform showed that US dollar inflows decline by about 15%.

The naira depreciated against the US dollar in the official market due to insufficient FX liquidity to meet foreign currency demand. The local currency has been struggling to keep value amidst increasing demand for a preferred foreign currency, the US dollar.

Naira Plummets, CBN Intervenes in FX Market 3 Times The Nigerian naira lost against the dominant U.S. dollar across foreign…

The naira rate plunged against the dominant U.S. dollar in the official wndow as data showed that FX turnover at the Nigerian autonomous foreign exchange market (NAFEM) fell by 14%.