Browsing: FX

Nigeria’s gross foreign reserves surged near $51 billion, driven by significant inflows….

The Naira slid against the US dollar at the Nigeria Foreign Exchange Market (NFEM) on Tuesday amidst a significant spike

The naira traded sideways against the US dollar in the official window on Monday, reflecting low payment pressure following the Apex Bank’s FX manual notice.

The naira mixed on Thursday, slipping against the US dollar (US$) at the Nigeria Foreign Exchange Market (NFEM) as international payments surpassed FX supply.

The naira rallied against crosses in the currency market as proceeds from Nigeria’s hydrocarbon sales continue to boost the country’s foreign reserves.

The Nigerian local currency, naira, climbed against the US dollar at the Nigerian foreign exchange market (NFEM) amid improved hard-currency liquidity.

The naira weakened further across the official and parallel markets on Tuesday. The local unit depreciated by 0.01% to ₦1,373.87 against the US dollar at the Nigerian foreign exchange market (NFEM) window as pressures persisted.

The naira depreciated against the US dollar on Monday at the Central Bank of Nigeria’s Foreign Exchange Market (NFEM) as FX inflow remained stiff.

Offshore or foreign portfolio investment inflows accounted for more than 59% of the US dollars available at Nigeria’s foreign exchange market, details released by the research unit of Coronation Merchant Bank Limited revealed.

Naira Opens Weak, Nigeria’s FX Reserves Signal Uptrend The Nigerian naira opened weak on Monday after a weekly value depreciation…