Browsing: FX

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%.

Naira Rates Recalibrate as Pressure Hits ‘Dark Economy’ The naira exchange rate in the black market, Nigeria’s untamed dark economy,…

The naira appreciated against the US dollar on BMatch system deployed by the Central Bank of Nigeria (CBN) for authorised currency dealers. Exchange was however studied at Nigeria’s autonomous foreign exchange market.

FX Matching System, Remittances key to Naira Stability – Cardoso The Central Bank of Nigeria (CBN) has assured that the…

CBN Sells US Dollar at Higher Rates to Nigerian Banks The Central Bank of Nigeria (CBN) sold additional US dollars…

The naira strengthens against the US dollar across foreign exchange markets as inflows from international oil companies and foreign portfolio investors boost liquidity. Spot data from the FM